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|   | · | Net revenues increased $7.0 million, or 6 percent, to $131.7 million for 2010 |
|--------|--------|-------------------------------------------------------------------------------|

|   | · | Earnings per share doubled from $0.05 for 2009 to $0.10 per share for 2010 |
|--------|--------|----------------------------------------------------------------------------|

|   | · | Selling, general and administrative expenses increased $5.0 million to $29.9 million for 2010, reflecting increased sales and marketing efforts |
|--------|--------|-------------------------------------------------------------------------------------------------------------------------------------------------|

|   | · | Cash flow generated from operations increased 21 percent to $10.8 million for 2010 |
|--------|--------|------------------------------------------------------------------------------------|

|   | · | The KBC Merger closed on October 1, 2010 |
|--------|--------|------------------------------------------|

|   | · | In March 2011, reached agreement with Anheuser-Busch to sell our minority interest in an affiliate for cash consideration and reduced distribution fees |
|--------|--------|---------------------------------------------------------------------------------------------------------------------------------------------------------|

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| Media Contact: | Investor Contact:              |
|----------------|--------------------------------|
| Ted Lane       | Patrick Green                  |
| LANE PR        | (503) 331-7275                 |
| (503) 546-7891 | Patrick.green@craftbrewers.com |
| Ted@lanepr.com |                           |

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|                                                    |   | Year Ended December 31, |    |
|---------------------------------------------------------|--------|-------------------------|---------|
|                                                    |   | 2010                    |    |   | 2009 |   |
|                                                    |   |                    |    |   |   |   |
| Sales                                                   |   | $                       | 140,852 |   |   | $ | 133,308 |   |
| Less excise taxes                                       |   |                    | 9,121   |   |   |   | 8,595 |   |
| Net sales                                               |   |                    | 131,731 |   |   |   | 124,713 |   |
| Cost of sales                                           |   |                    | 98,064  |   |   |   | 97,230 |   |
| Gross profit                                            |   |                    | 33,667  |   |   |   | 27,483 |   |
|                                                    |   |                    | 25.5    | % |   |   | 22.1 | % |
| Selling, general and administrative expenses            |   |                    | 29,938  |   |   |   | 24,911 |   |
| Merger-related expenses                                 |   |                    | 559     |   |   |   | 225 |   |
| Operating income                                        |   |                    | 3,170   |   |   |   | 2,347 |   |
| Interest expense                                        |   |                    | (1,497  | ) |   |   | (2,139 | ) |
| Income from equity investments, interest and other, net |   |                    | 1,113   |   |   |   | 865 |   |
| Income before income taxes                              |   |                    | 2,786   |   |   |   | 1,073 |   |
| Income tax provision                                    |   |                    | 1,100   |   |   |   | 186 |   |
| Net income                                              |   | $                       | 1,686   |   |   | $ | 887 |   |
|                                                    |   |                    |    |   |   |   |   |   |
| Earnings per share:                                     |   |                    |    |   |   |   |   |   |
| Basic and diluted earnings per share                    |   | $                       | 0.10    |   |   | $ | 0.05 |   |
| Weighted average shares outstanding:                    |   |                    |    |   |   |   |   |   |
| Basic                                                   |   |                    | 17,523  |   |   |   | 17,004 |   |
| Diluted                                                 |   |                    | 17,568  |   |   |   | 17,041 |   |
|                                                    |   |                    |    |   |   |   |   |   |
| Total Shipments (in barrels):                           |   |                    |    |   |   |   |   |   |
| Core Brands                                             |   |                    | 584,700 |   |   |   | 582,500 |   |
| Contract Brewing                                        |   |                    | 23,100  |   |   |   | 5,000 |   |
| Total Shipments                                         |   |                    | 607,800 |   |   |   | 587,500 |   |

|                                                            |   | December 31, |    |
|-----------------------------------------------------------------|--------|--------------|---------|
|                                                            |   | 2010         |    |   | 2009 |   |
|                                                            |   |         |    |   |   |   |
| Current assets:                                                 |   |         |    |   |   |   |
| Cash and cash equivalents                                       |   | $            | 164     |   |   | $ | 11 |   |
| Accounts receivable, net                                        |   |         | 10,514  |   |   |   | 11,122 |   |
| Inventories                                                     |   |         | 8,729   |   |   |   | 9,487 |   |
| Deferred income tax asset, net                                  |   |         | 932     |   |   |   | 970 |   |
| Other current assets and income tax receivables                 |   |         | 3,233   |   |   |   | 3,941 |   |
| Total current assets                                            |   |         | 23,572  |   |   |   | 25,531 |   |
| Property, equipment and leasehold improvements, net             |   |         | 98,778  |   |   |   | 97,339 |   |
| Goodwill                                                        |   |         | 12,917  |   |   |   | — |   |
| Intangible and other non-current assets, net                    |   |         | 22,999  |   |   |   | 18,715 |   |
| Total assets                                                    |   | $            | 158,266 |   |   | $ | 141,585 |   |
|                                                            |   |         |    |   |   |   |   |   |
| Current liabilities:                                            |   |         |    |   |   |   |   |   |
| Accounts payable                                                |   | $            | 13,825  |   |   | $ | 14,672 |   |
| Accrued salaries, wages, severance and payroll taxes            |   |         | 4,053   |   |   |   | 4,432 |   |
| Refundable deposits                                             |   |         | 6,291   |   |   |   | 6,288 |   |
| Other accrued expenses                                          |   |         | 1,378   |   |   |   | 1,185 |   |
| Current portion of long-term debt and capital lease obligations |   |         | 2,460   |   |   |   | 1,481 |   |
| Total current liabilities                                       |   |         | 28,007  |   |   |   | 28,058 |   |
| Long-term debt and capital lease obligations, net               |   |         | 24,675  |   |   |   | 24,685 |   |
| Other long-term liabilities                                     |   |         | 11,388  |   |   |   | 8,210 |   |
| Total common stockholders' equity                               |   |         | 94,196  |   |   |   | 80,632 |   |
| Total liabilities and common stockholders' equity               |   | $            | 158,266 |   |   | $ | 141,585 |   |

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|                                                                              |   | Year Ended December 31, |    |
|-----------------------------------------------------------------------------------|--------|------------------------------|---------|
|                                                                              |   | 2010                         |    |   | 2009 |   |
|                                                                              |   |                         |    |   |   |   |
| Cash Flows From Operating Activities:                                             |   |                         |    |   |   |   |
| Net income                                                                        |   | $                            | 1,686   |   |   | $ | 887 |   |
| Adjustments to reconcile net income to net cash provided by operating activities: |   |                         |    |   |   |   |   |   |
| Depreciation and amortization                                                     |   |                         | 7,044   |   |   |   | 7,313 |   |
| Income from equity investments                                                    |   |                         | (647    | ) |   |   | (513 | ) |
| Deferred income taxes                                                             |   |                         | 1,082   |   |   |   | (56 | ) |
| Other, including stock-based compensation                                         |   |                         | (81     | ) |   |   | (63 | ) |
| Changes in operating assets and liabilities:                                      |   |                         |    |   |   |   |   |   |
| Accounts receivable                                                               |   |                         | 2,017   |   |   |   | 1,391 |   |
| Inventories                                                                       |   |                         | 1,445   |   |   |   | (202 | ) |
| Income tax receivable and other current assets                                    |   |                         | 590     |   |   |   | 791 |   |
| Other assets                                                                      |   |                         | 36      |   |   |   | 72 |   |
| Accounts payable and other accrued expenses                                       |   |                         | (1,353  | ) |   |   | (1,162 | ) |
| Accrued salaries, wages, severance and payroll taxes                              |   |                         | (1,230  | ) |   |   | 802 |   |
| Refundable deposits and other liabilities                                         |   |                         | 209     |   |   |   | (306 | ) |
| Net cash provided by operating activities                                         |   |                         | 10,798  |   |   |   | 8,954 |   |
| Cash Flows from Investing Activities:                                             |   |                         |    |   |   |   |   |   |
| Expenditures for property, equipment and leasehold improvements                   |   |                         | (4,669  | ) |   |   | (2,303 | ) |
| Proceeds from sale of property, equipment and leasehold improvements and other    |   |                         | 160     |   |   |   | 136 |   |
| Cash paid in merger with Kona Brewing Co., Inc. and related entities, net         |   |                         | (6,206  | ) |   |   | — |   |
| Proceeds from cash grant                                                          |   |                         | 402     |   |   |   | — |   |
| Net cash used in investing activities                                             |   |                         | (10,313 | ) |   |   | (2,167 | ) |
| Cash Flows from Financing Activities:                                             |   |                         |    |   |   |   |   |   |
| Principal payments on debt and capital lease obligations                          |   |                         | (1,505  | ) |   |   | (1,394 | ) |
| Net borrowings (repayments) under revolving line of credit                        |   |                         | 1,100   |   |   |   | (5,600 | ) |
| Issuance of common stock  and other                                     |   |                         | 73      |   |   |   | 207 |   |
| Net cash used in financing activities                                             |   |                         | (332    | ) |   |   | (6,787 | ) |
| Increase in cash and cash equivalents                                             |   |                         | 153     |   |   |   | — |   |
| Cash and cash equivalents, beginning of period                                    |   |                         | 11      |   |   |   | 11 |   |
| Cash and cash equivalents, end of period                                          |   | $                            | 164     |   |   | $ | 11 |   |

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