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House of Brussels Signs Agreement to Acquire DeBas Chocolatier of Fresno, California
HOUSTON, Jun 8, 2004 (BUSINESS WIRE) --
House of Brussels Chocolates ("Brussels" or "HBSL") (OTCBB:HBSL), through its CEO Grant Petersen, is pleased to announce the signing of a Memorandum of Understanding with DeBas Chocolate Inc. ("DeBas") of Fresno, CA, whereby Brussels will acquire DeBas for a combination of cash, stock and assumption of debt. Subject to completion of due diligence and the required financial audit, the acquisition could close within 30 days.

Upon successful acquisition, DeBas will continue to operate independently as a wholly owned subsidiary of HBSL. Given the exceptional reputation of DeBas and its Founder, Guy DeBas, HBSL wishes to retain the DeBas brand in its present form. The state-of-the-art DeBas factory is Orthodox Kosher certified as well as certified as organic by the State of California. The high-end artisan operation brings capabilities for "Panning", which HBSL currently does not have. With Panning equipment added to existing Belgian and Enrobing capabilities, Brussels will cover all primary methods of gourmet chocolate making. Additionally, DeBas will deliver a fully developed Internet commerce website which will be expanded to offer Brussels' various product lines for online review and purchase.

Preliminary indications are that the DeBas acquisition will be accretive to earnings and will bring a substantial new customer base to HBSL. As with any acquisition, Brussels' intent is to capitalize on existing DeBas relationships by cross-selling other products into those channels.

Guy DeBas, Founder and President of DeBas, will remain with Brussels as Vice President, Product Development under a long-term contract.

As a testament to the respect that DeBas commands in the gourmet chocolate industry, the highly respected online Chocolate of the Month Club selected DeBas last month as their Chocolatier of the Month (see http://www.chocolatemonthclub.com/pastnewsletters/vol5no5.htm)

On his company's pending acquisition, Guy DeBas stated, "Joining a rapidly growing specialty operation like House of Brussels Chocolates is really a perfect opportunity to take DeBas to its next level of growth. With strong management and fiscal backing our potential now is really limitless. I look forward to being part of a phenomenal management team and building a chocolate powerhouse."

Grant Petersen, CEO of Brussels, said, "The purchase of DeBas represents our third acquisition in line with management's stated objectives of growing organically as well as by using relatively non-dilutive acquisition. We are pleased that DeBas is sufficiently stable and profitable to be acquired as a going concern and look forward to rapidly integrating their business into the Brussels family."

About DeBas Chocolate Inc.

Since 1985, DeBas Chocolate Inc, dba DeBas Chocolatier, has been producing premium chocolate confections while simultaneously perfecting the masterful art of chocolate making. Influenced by a great heritage of Byzantine art, history and culture, DeBas Chocolatier is dedicated to an ageless tradition of excellence. And to this day, every piece of DeBas chocolate is handcrafted to be a true work of art that is distinctly superior in quality and taste. DeBas truffles are available in many vibrant colors with an assortment of sumptuous gourmet fillings including wines such as cabernet sauvignon, chardonnay and merlot. DeBas is also famous for its panned chocolate such as chocolate-covered coffee beans, chocolate-covered candied orange peels, and chocolate dipped fruits and nuts, among others.

About House of Brussels Chocolates Inc. (www.brusselschocolates.com)

For more than 20 years, House of Brussels Chocolates has manufactured and distributed high-end, award-winning chocolates. Headquartered in Houston, TX, HBSL has manufacturing plants in Vancouver and San Francisco. HBSL's signature product is the chocolate hedgehog, which marries the traditional Belgian symbol of good luck (i.e., the hedgehog) with taste (i.e., chocolate) for a strong customer appeal. Even though many of HBSL's 100 products are based on its signature hedgehog, including the recently released Sonic The Hedgehog(R) chocolate bar - under license from SEGA(R) of America, Inc., our future sales growth is directed towards emerging market trends. In addition to a broad spectrum of products in the Gourmet/Ultra-Gourmet category, HBSL now manufactures a complete line of no-sugar-added/low-carbohydrate chocolate bars and truffles and several nutritional supplement bars. In addition to house brands, HBSL creates custom packaging, shaping and sizing as well as private labels for several major North American retailers including Suzanne Somers, Nordstrom and Walgreens.

Safe Harbor: Certain statements in this news release regarding future expectations and plans may be regarded as "forward looking statements" as defined by federal law. Although the Company believes such statements are based on reasonable assumptions, there is no assurance that actual outcomes will not be materially different. Any such statements are made in reliance on the "safe harbor" protections provided under the Private Securities Reform Act of 1995. They are subject to various risks, including uncertainties regarding timing, and capital availability, as discussed in detail in House of Brussels quarterly and annual reports filed with the SEC.

SOURCE: House of Brussels Chocolates Inc.

House of Brussels Chocolates Inc.
John Veltheer
1-800-661-1524
Email: [e-mail]
Website: www.brusselschocolates.com
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