For Immediate Release

(Managua, June 18, 2003) - A record number of coffees were sold during the Cup of Excellence Internet auction held yesterday. Buyers from the United States, Japan, Europe and even Kuala Lumpur paid a premium for their favorite award winning coffee. Historically Japanese buyers have paid the highest price and purchased a majority of the Cup of Excellence coffees but more than half of the coffee will be headed for Europe and the United States. "This is a great opportunity for both the Cup of Excellence® program and the Nicaraguan farmers to introduce many consumers in the US and Europe to these great coffees," explains Susie Spindler manager of the Cup of Excellence program. "After years of enjoying award winning coffees there are many loyal Japanese consumers, we expect that the consumer base in the US and Europe will now grow as well."

The top coffee sold for $7.05 lb. to Maruyama Coffee of Japan, nine of the 37 coffees sold for at least $3.00 lb. and the majority of the coffees sold at well over $2.00 lb.The average price was approximately $2.50lb multiple times the present price of coffee. Solberg & Hansen who has purchased coffee in every Cup of Excellence auction once again bought 2 lots. Both small and large companies bought coffee at auction, some companies bidding in groups, others buying the entire lot of coffee for themselves.

Millstone Coffee, a large US roaster bought 2 lots for themselves while Mercanta and Volcafe Specialty Coffee, two of the program cooperating importers, bought for groups of roasters. George Howell, co-creator of the program, and now wholesale roaster led the bidding on the largest lot. The 93 bag lot will be shared by a group of roasters in the northeast US and Florida.

Many other buyers were members of the international jury which selected these coffees. " There were a least five of the sweet- cherry/chocolate combinations that I always look for and rarely find," indicated Danny O' Neill of The Kansas City based Roasterie. Soren Sylvest of Estate Coffees in Denmark remarked after the competition that "By choosing a top Nicaraguan coffee to go with your favorite smooth dark chocolate you will create a crisp and happy marriage of flavors." For some this was their first experience with Nicaragua specialty coffees. Yoshi Kato of Bontain Coffee in Japan was surprised, "I did not know Nicaragua coffee, now I recognize Nicaragua's big capacity for specialty coffee, I am excited to roast these great coffees in our factory."

"This program is about a fresh and innovative approach to consider coffee in much the same way as other fine products," explains Stephen Hurst of London based Mercanta and board chairman of the Alliance For Coffee Excellence, Inc. which owns and manages the program.. We are looking forward to the first El Salvador Cup of Excellence auction on July 1. For more information visit www.cupofexcellence.org.