AT that time, the TTB stated, "you may
not make curative or therapeutic claims on labels or create misleading
associations between the consumption of alcohol and health per 27 CFR 4. Creasy believes the fall climates of
New York and Oregon's Willamette Valley may be the best for growing winegrapes
rich in this antioxidant (US News and World Report, 9/29/03, page d14).

grape hardiness

If a change occurs, our business, financial
condition, liquidity and results of operations may vary materially
from those expressed in our forward-looking statements.

economically microbial

----Vintage Wine
Trust (VWT ), the only REIT in the United States focusing exclusively
on the wine and vineyard industry, today announced the addition of
Walter Klenz to its Board of Directors and Andrew Bledsoe to its
senior management team. Bledsoe, VWT's Senior Vice President of Asset Management,
served in various positions at the Robert Mondavi Corporation and its
affiliates, including as a Research Viticulturist, Director of
Research + Quality Enhancement, Director of Grower Relations and
Research, and ultimately as Vice President, Winegrowing. In some cases, you can identify forward-looking statements by
the use of forward-looking terminology such as "believes," "expects,"
"may," "will," "would," "could," "should ," "seeks," "approximately,"
"intends," "plans," "projects," "estimates" or "anticipates" or the
negative of these words and phrases or similar words or phrases.

The forward-looking statements are based on our beliefs,
assumptions and expectations of our future performance, taking into
account all information currently available to us. The
winery's legal counsel is preparing an appeal of the '04 Pinot noir label
rejection on the grounds that stating from where the antioxidant resveratrol
comes and its molecules per liter is well within the law. It was the '04 Whole Cluster Pinot noir which was found to
contain 71 micromolar, a higher resveratrol content than in any wine in the
Creasy study.
Currently, Oregon law requires a federally approved label for any wine to be
sold in Oregon .

cultivars climates

Business Editors/Wine Writers

SAN RAFAEL, Calif.
"We are very pleased with the addition of Walt to our Board and
Andy to our management team," commented VWT's CEO Joe Ciatti, "both
add significant value to our strategic vision of the role VWT plays in
the wine industry.

oenology isolates

Klenz served as President and Chief Executive Officer of
Beringer Wine Estates Holdings, Inc. VWT
owns wine grape vineyards, and intends to acquire additional vineyards
and other real estate assets related to the wine industry that are,
and will be net leased to branded wineries, bulk wine producers and
independent grape growers primarily in the State of California, but
also in other wine grape growing areas in the U.

This press release contains various "forward-looking statements.

agrochemical isolates

Vintage Wine Trust Adds to Senior Management Team; Walter Klenz and Andrew Bledsoe Join VWT

Our tests
over the six vintages ('99 - '04) show this pattern.

stellenbosch economically

39 (h)
(i). Tests
show many of Willamette Valley Vineyards Pinot noirs range from 19 to a high
of 71 micromolar. "As a grower,
it is an amusing irony that the botrytis I fight some years more than others
is stimulating the vine to produce so much of this antioxidant.

isolates kling

Statements regarding the following subjects may be impacted by a
number of risks and uncertainties:

our business and investment strategy;

our projected results of operations;

completion of any pending acquisitions;

our ability to manage our anticipated growth;

our ability to obtain future financing arrangements;

our estimates relating to, and our ability to make, future
distributions;

our understanding of our competition and our ability to
compete effectively;

market and industry trends in the United States, and
particularly in the State of California;

projected capital and operating expenditures;

state of the wine industry, of which vineyards are a critical
part;

availability and creditworthiness of current and prospective
tenants;

interest rates;

lease rates and terms; and

our qualification as a REIT.

agrochemical roundtable

These beliefs ,
assumptions and expectations are subject to risks and uncertainties
and can change as a result of many possible events or factors, not all
of which are known to us., Willamette Valley Vineyards
is sending to wine writers this week what it believes is the first federal
government label approval of resveratrol content, an antioxidant, on wine.

Willamette Valley Vineyards is Oregon's only public common stock held
winery (Nasdaq: WVVI) is located near Turner Oregon.

isolates hardiness

virulence agrochemical

"
Forward-looking statements relate to expectations, beliefs,
projections, future plans and strategies, anticipated events or trends
and similar expressions concerning matters that are not historical
facts.
"We have been careful to avoid making any health claims on the label and
related materials associated with resveratrol and rather have focused on its
presence and the reason for its presence in our wine ," said Jim Bernau, winery
founder and president. Creasy has generalized wine with greater than 10 micromolar
(molecules by liter) of resveratrol are considered to be extraordinary.

agrochemical viticultural

SALEM, Ore .
Dr.

modeled winemaking

"
Vintage Wine Trust, headquartered in San Rafael, California is the
first REIT in the U. to focus solely on the wine grape industry. "Clearly, the two prior label approvals by the TTB
confirm there must be at least one person within their own agency who agrees
with our view. The winery also owns
Tualatin Estate Vineyards near Forest Grove and Griffin Creek wines produced
from winegrapes from the Rogue Valley.

roundtable agrochemical

"It is my hope that continued recognition by the public and public policy
makers toward the unique attributes of wine will support legal changes which
at a minimum allow wine producers to voluntarily list antioxidants on the
label," Bernau said.

winegrapes modeled

denswil oenology

Delete reference to the word 'resveratrol'."
Bernau said he has been exploring the tendency for Pinot noir to produce
high amounts of the antioxidant resveratrol ever since Cornell researcher
LeRoy Creasy showed the thin skinned Pinot noir grape grown in moist, cool
climates produces the most resveratrol .
"The lab results on our wines made from our Estate Vineyard are so high we
are thinking of calling these vines our 'heart vines'," Bernau said. This legislation, if successful, would permit the sale if the
TTB rejection was made solely on grounds that the label listed the
antioxidants .

winemaking roundtable

Mr.S.

viticultural winemaking

Developing, growing, studying grape culture

cultivars winegrowers

viticultural variation

"
The Company's later filing to the TTB, (Alcohol, Tax and Trade Bureau of
the US Dept of Treasury), which contained this language on its '04 Whole
Cluster Pinot noir label was rejected.

climates economically

He has
served as a director of Columbia Sportswear Company since 2000 and as
a director of America West Holdings since 1998.

virulence hardiness

Winery Receives Federal Label Approval on Antioxidant Content

The winery's '02 Vintage Selection Pinot noir label was approved to list
resveratrol and its content and '03 Whole Cluster Fermented Pinot noir label
includes the same plus the explanation of resveratrol: "Pinot noir develops a
natural defense against botrytis (mold) in our moist, cool climate -- the
antioxidant resveratrol.
"It has been an exciting discovery to find the grape we love to grow here
in our climate is so unique in this regard," Bernau explained."
Bernau is presenting these wines at the 3rd International Wine and Heart
Health Summit tasting March 2nd in Napa Valley.

economically kling

He is past Chairman of
the California Wine Institute and past President of the Napa Valley
Vintners Association. and Canada.
In addition to planning to appeal the TTB's rejection of the later label
submission, Bernau is seeking legislation in the Oregon Legislature to permit
the sale of Oregon wine in Oregon which lists antioxidants and their content.

winemaking vinification

from 1990 to 2000 and as Managing
Director of Beringer Blass Wine Estates from 2001 to 2004."
Bernau said the winery's legal counsel has advised that each label
approval or rejection is independent of each other, thus the approvals
received are valid unless and until later rescinded by the agency.

grape viticulture

Mr.