Receives Second Tranche of Funding of $15 million NORTH PALM BEACH, Fla., Nov. 8 /PRNewswire-FirstCall/ -- Bravo! Brands Inc. (OTC:BRVO) (BULLETIN BOARD: BRVO) today announced that the Securities and Exchange Commission has declared effective the Form SB - 2 registration statement filed by the company in December 2005. The registration statement included amended and restated financial statements for the fiscal year ended December 31, 2005 and for the quarterly period ending June 30, 2006. The restated financial statements reflect the reclassification of certain of the company's financial instruments and the implementation of a new valuation methodology for derivatives associated with certain of its past and current financial instruments. The restatements resulted in non-cash adjustments to the financial statements and did not impact the operating results of the company. In July 2006, the Company sold $30 million of Senior Convertible Notes due 2010. Of the $30 million raised by the company, $15 million was released to the company upon closing the transaction in July and the remaining $15 million was held in escrow, pending effectiveness of the Form SB-2. The Company had previously satisfied the other escrow release condition by having shareholders approve an increase in authorized shares at a shareholder meeting on October 11, 2006. Roy Warren, Chief Executive Officer, commented, "We are extremely pleased to have the SEC declare our registration statement effective. It was a condition of our recent financing and the company can now receive the second tranche of the capital we raised." Mr. Warren further commented, "We are now in a position to move ahead aggressively with our financial strategies as well as our business plans to grow our brands and support our distribution partners and our marketing plans." About the Company Bravo! Brands Inc. develops, brands, markets, distributes and sells nutritious, flavored milk products throughout the 50 United States, Great Britain and various Middle Eastern countries. Bravo!'s products are available in the United States and internationally through production agreements with regional aseptic milk processors and are currently sold under the brand names Slammers(R) and Bravo!(TM). Bravo!'s Slammers(R) products are available nationwide in popular chains such as: 7-Eleven, A&P, Dutch Farms, Giant Food Stores, Jewel, Kings, Pathmark, Safeway, Sam's Club, Shaw's, ShopRite, Speedway, SuperTarget, Unified, Waldbaums and Walgreens. Many of Bravo! Brands' Slammers(R) lines of shelf-stable, single-serve milk drinks are co-branded through exclusive partnerships with Masterfoods, a division of Mars Incorporated, General Mills and MD Enterprises (Moon Pie(R)), providing superior name recognition packaged with quality, great-tasting drinks. On November 1, 2005, Coca-Cola Enterprises, Inc. began distribution of the Slammers(R) Masterfoods line, as well as the Bravo!'s Slim Slammers(R) and Pro Slammers(TM) products, under a Master Distribution Agreement with Bravo! For more information, visit: http://www.bravobrands.com/ Forward Looking Statements Safe Harbor under the Private Securities Litigation Reform Act of 1995: The statements which are not historical facts contained in this press release are forward-looking statements that involve certain risks and uncertainties including but not limited to risks associated with the uncertainty of future financial results, regulatory approval processes, the impact of competitive products or pricing, technological changes, the effect of economic conditions and other uncertainties as may be detailed in the Company's filings with the Securities and Exchange Commission. Company Contact Investor Relations Contact: Jeffrey J. Kaplan, Chief Integrated Corporate Relations Financial Officer Kathleen Heaney (203) 803-3585 (561) 625-1411 DATASOURCE: Bravo! Brands Inc. CONTACT: Jeffrey J. Kaplan, Chief Financial Officer of Bravo! Brands Inc., +1-561-625-1411; or Investor Relations, Kathleen Heaney of Integrated Corporate Relations, +1-203-803-3585, for Bravo! Brands Inc. Web site: http://www.bravobrands.com/

Copyright