ALLIED BRANDS ANNUAL MEETING - COMPANY LIES AND SPINS, ANGRY SHARE OWNERS CALL MANAGEMENT LIARS, ASK WHERE WENT ALL THAT CASH???

Despite the spin and press releases from Allied Brands Ltd. (ABQ) touting "strong sales" and "increased profits", angry shareholders yesterday called management on the lies and deceit of the last several years.

In one example, ABQ management said sales at Baskin Robbins had "strongly increased" by 12%. Since this is after a 25% across-the-board pricing increase forced on franchisees, clearly this shows that sales are actually tracking backwards.

A shareholder said the market has "lost confidence" in management after being told LIE AFTER LIE. Likewise another shareholder said that brokers had begun to see thru the lies told by the company, and a flood of negative information available about the company was being "covered up" by management. One example was that the number of retail locations predicted to be opened is never achieved by the company, going back five years. One shareholder called management's continually announced plans for new shops "fairy tales".

One director called a questioning shareholder a "dickhead" for pointing out how little detailed information was being released by the company compared to competitor Retail Brands (RFG). Management refused to answer any more of this shareholder's questions, threatening to eject him from the meeting.

It was also noted that the predicted per-share profit, still substantially below what was predicted for the YE June 30 2009, was now spread over almost twice the number of shares that had been dumped on the market.

Where did all this cash go? No one seems to know. The company refused to answer.

NO ETHICS - - THE CORNERSTONE OF ALLIED BRANDS!