Peet's Coffee & Tea, Inc. Celebrates the Accomplishments of "Las Hermanas"

EMERYVILLE, Calif.--(BUSINESS WIRE)

Company's long-term price contracts enable all-women cooperative to sustain quality production methods and build ongoing community training programs

Peet's Coffee & Tea, Inc. (NASDAQ:PEET), a specialty coffee roaster and marketer, announced its fourth year of guaranteed price contracts with Las Hermanas (the "Sisters"), a group of 143 women, specially dedicated to quality, who grow and mill their own coffee in the highlands of Nicaragua. Peet's is proud to feature Las Hermanas coffee in their 2004 Holiday Blend.

In 2001, Peet's first introduced the coffee of Las Hermanas in Fair Trade Blend, and in 2003, the coffee was featured as a special offering worthy of standing alone. For 2004, the company is proud to feature more of this special coffee in its much anticipated Holiday Blend coffee to celebrate not only the holiday season but also the continued accomplishments of these remarkable coffee growers.

As a result of the premium priced contracts with Peet's, Las Hermanas has been able to obtain additional low-interest, pre-harvest financing, at the start of the coffee growing season, securing the loans against the company's yearly purchases. Further, these purchases have enabled these women to sustain rigorous quality control training programs, allowing them to maintain top quality coffee production and invest back into their future livelihood.

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