Please use the exhibits to answer the following:

1 - What is required for Mountain Man Light to break even in two years?

2 - What market share will Mountain Man Light have to obtain to break even in two years?

3 - What cannibalization rate is reasonable?

4 - Is the budget appropriate for the launch? Can it be reduced?

Exhibit 7 U.S. Beer Advertising Expenditures by Medium (in millions of dollars), 2005 Medium 2005 Network television $382.3 Cable television 72.1 Spot television Syndicated television Spot radio 144.3 5.5 22.4 Network radio 1.2 Total Broadcast $627.8 Magazines Newspapers Newspaper supplements Outdoor 23.2 6.6 51.5 Total Print $81.3 TOTAL $709.1 Exhibit 6 Light Beer Market Shares and Dominant Brands . Light Beer Competitive Market Shares East Central Region 2005 Market Share Anheuser-Busch 49% Miller 24% Coors 11% Other brands 14% Imports 2% Total Light Beer 100% . Leading Domestic Light Beer Brands East Central Region 2005 Market Share Bud Light 32.9% Miller Lite 17.8% Coors Light Natural Light Busch Light 14.7% 9.8% 6.4% 5.6% Michelob Ultra Milwaukee's Best Light Other domestic brands 3.4% 9.4% Total 100% . Leading Imported Light Beer Brands Brand 2005 Market Share Corona Light Amstel Light Labatt Blue Light Other imported brands 57% 26% 15% 2% 100% Total Note: Market share calculations based on wholesale barrel sales. Exhibit 5 Consumption by Type of Beer and by Origin/Packaging, 2005 A. Consumption by Type of Beer EAST CENTRAL 6-year CAGR REGION % Total Light Beer 18,744,303 7,326,642 50.4% +4% Premium Beer (4%) (5%) 19.7% Popular Imported Premium Superpremium (craft and high-end domestics) 4,351,356 11.7% 12.0% 4,462,929 +6% 2,305,847 6.2% +9% Total Barrels 37,191,077 100.0% B. Consumption by Origin/Packaging EAST CENTRAL REGION % Total Imported Domestic - Packaged Domestic - Draught 4,462,929 12.0% 29,618,974 79.6% 3,109,174 8.4% Total Barrels 37,191,077 100.0% 2069 1 Mountain Man Brewing Company: Bringing the Brand to Light Exhibit 1 Mountain Man 2005 Income Statement Net Revenues $50,440,000 100.0% COGS 34,803,600 69.0% Gross Margin SG&A Other Operating Expenses 15,636,400 9,583,600 31.0% 19.0% 1,412,320 2.8% Operating Margin Other Income 4,640,480 151,320 9.2% 0.3% Net Income Before Taxes 9.5% 4,791,800 1,677,130 Provision for Income Taxes 3.3% Net Income After Taxes $3,114,670 6.2% Advertising expenses were $1.35 million annually or 2.7 % of total revenues Advertising expenses included radio, print, and outdoor advertising, sponsonships, as well as costs to produce these media. Exhibit 2 Profile of Beer Drinkers by Beer Type by Key Demographics, 2005 Domestic Domestic Premium Beer Mountain Light Beer Man Lager Gender Male 58% 68% 81% Female 42% 32% 19% Age 21-24 9% 8% 2% 25-34 20% 20% 15% 35-44 24% 23% 19% 45-54 22% 23% 32% 55-64 14% 14% 19% 65+ 12% 12% 13% Household Income under $25k 14% 16% 20% $25k-49.9k 25% 24% 27% $50k-74.9k 21% 21% 25% $75k-99.9k 16% 15% 15% $100k+ 24% 23% 13% Source: First two columns of data extracted from Mintel/Simmons NCS 2005 report, figure 67 BRIEFCASESI HARVARD BUSINESS SCHOOL Exhibit 7 U.S. Beer Advertising Expenditures by Medium (in millions of dollars), 2005 Medium 2005 Network television $382.3 Cable television 72.1 Spot television Syndicated television Spot radio 144.3 5.5 22.4 Network radio 1.2 Total Broadcast $627.8 Magazines Newspapers Newspaper supplements Outdoor 23.2 6.6 51.5 Total Print $81.3 TOTAL $709.1 Exhibit 6 Light Beer Market Shares and Dominant Brands . Light Beer Competitive Market Shares East Central Region 2005 Market Share Anheuser-Busch 49% Miller 24% Coors 11% Other brands 14% Imports 2% Total Light Beer 100% . Leading Domestic Light Beer Brands East Central Region 2005 Market Share Bud Light 32.9% Miller Lite 17.8% Coors Light Natural Light Busch Light 14.7% 9.8% 6.4% 5.6% Michelob Ultra Milwaukee's Best Light Other domestic brands 3.4% 9.4% Total 100% . Leading Imported Light Beer Brands Brand 2005 Market Share Corona Light Amstel Light Labatt Blue Light Other imported brands 57% 26% 15% 2% 100% Total Note: Market share calculations based on wholesale barrel sales. Exhibit 5 Consumption by Type of Beer and by Origin/Packaging, 2005 A. Consumption by Type of Beer EAST CENTRAL 6-year CAGR REGION % Total Light Beer 18,744,303 7,326,642 50.4% +4% Premium Beer (4%) (5%) 19.7% Popular Imported Premium Superpremium (craft and high-end domestics) 4,351,356 11.7% 12.0% 4,462,929 +6% 2,305,847 6.2% +9% Total Barrels 37,191,077 100.0% B. Consumption by Origin/Packaging EAST CENTRAL REGION % Total Imported Domestic - Packaged Domestic - Draught 4,462,929 12.0% 29,618,974 79.6% 3,109,174 8.4% Total Barrels 37,191,077 100.0% 2069 1 Mountain Man Brewing Company: Bringing the Brand to Light Exhibit 1 Mountain Man 2005 Income Statement Net Revenues $50,440,000 100.0% COGS 34,803,600 69.0% Gross Margin SG&A Other Operating Expenses 15,636,400 9,583,600 31.0% 19.0% 1,412,320 2.8% Operating Margin Other Income 4,640,480 151,320 9.2% 0.3% Net Income Before Taxes 9.5% 4,791,800 1,677,130 Provision for Income Taxes 3.3% Net Income After Taxes $3,114,670 6.2% Advertising expenses were $1.35 million annually or 2.7 % of total revenues Advertising expenses included radio, print, and outdoor advertising, sponsonships, as well as costs to produce these media. Exhibit 2 Profile of Beer Drinkers by Beer Type by Key Demographics, 2005 Domestic Domestic Premium Beer Mountain Light Beer Man Lager Gender Male 58% 68% 81% Female 42% 32% 19% Age 21-24 9% 8% 2% 25-34 20% 20% 15% 35-44 24% 23% 19% 45-54 22% 23% 32% 55-64 14% 14% 19% 65+ 12% 12% 13% Household Income under $25k 14% 16% 20% $25k-49.9k 25% 24% 27% $50k-74.9k 21% 21% 25% $75k-99.9k 16% 15% 15% $100k+ 24% 23% 13% Source: First two columns of data extracted from Mintel/Simmons NCS 2005 report, figure 67 BRIEFCASESI HARVARD BUSINESS SCHOOL