MAGNOTTA WINERY RELEASES RESULTS

The Canadian Magnotta Winery Corporation released their financial results for the third quarter ending October 31, 2005 yesterday. Net sales increased 5% while gross profit margin decreased to 49.7% from 51.1% due to “increased cost pressures in the quarter for raw materials and packaging materials.” Overall, the 2005 Ontario grape harvest has been a tough one due to lower harvest amounts and poor weather.