SLEEMAN RETRACTS EARLIER PRICING PROJECTIONS

Sleeman Breweries, the third largest in Canada, warned that 2005 profits may not be up to what they originally projected, blaming the difference on competitive pricing. They initially thought earnings per share would fall somewhere in the $0.81 to $0.85 range but now expect it to be between $0.60 and $0.64. "The industry experienced compressed margins during the quarter, most notably in the province of Quebec. On a positive note, Sleeman market share and volumes remained consistent with prior year