updated 11/15/2010 11:16:49 AM ET 2010-11-15T16:16:49

WILTON, Conn., Nov. 15, 2010 (GLOBE NEWSWIRE) -- Drinks Americas Holdings, Ltd., (OTCBB:DKAMD), a leading developer and marketer of beverage products, announced a reverse split (also known as a "share consolidation") of its common shares.  The Company has taken steps to complete a one-for-fifteen reverse stock split of the Company's common stock.  As a result of the reverse stock split, every fifteen shares of the Company's common stock issued and outstanding immediately prior to the effective date will be combined into one share of common stock.

The Reverse Split became effective at 5:00pm, Eastern time, on November 12, 2010 (the "Effective Time"), and the Company's common stock will commence trading on a split-adjusted basis on the Bulletin Board when the market opens on November 15, 2010. The common stock will continue to trade under the ticker symbol "DKAM", although the letter "D" will be temporarily appended to the ticker symbol for twenty trading days following the Reverse Split. At the Effective Time, each fifteen (15) shares of the Company's common stock issued and outstanding immediately prior to the Effective Time will be automatically reclassified as and converted into one (1) share of the Company's common stock. Any fractional share interest that would otherwise result from the Reverse Split will be rounded up to the nearest whole share. As a result, no fractional shares will be issued in connection with the Reverse Split, nor will any cash payments be made in respect of any fractional share interests.

Continental Stock Transfer will send instructions regarding the reverse split to each shareholder.

About Drinks Americas

Drinks Americas develops, owns, markets, and nationally distributes alcoholic and non-alcoholic premium beverages associated with renowned icon celebrities, including Willie Nelson's Old Whiskey River Bourbon, Olifant Vodka, Aguila Tequila, Trump Vodka and Damiana. For further information, please visit our new websites at www.drinksamericas.com and www.rheingoldbrewingcompany.com.

The Drinks Americas Holdings, Ltd. logo is available at http://www.globenewswire.com/newsroom/prs/?pkgid=7881

Safe Harbor

Except for the historical information contained herein, the matters set forth in this release, including the description of the company and its product offerings, are forward-looking statements within the meaning of the "safe harbor" provision of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially, including the historical volatility and low trading volume of our stock, the risk and uncertainties inherent in the early stages of growth companies, the company's need to raise substantial additional capital to proceed with its business, risks associated with competitors, and other risks detailed from time to time in the company's most recent filings with the Securities and Exchange Commission. These forward-looking statements speak only as of the date hereof. The company disclaims any intent or obligation to update these forward-looking statements.

© Copyright 2012, GlobeNewswire, Inc. All Rights Reserved

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