STONEPOINT REPORTS STRONG Q2 RESULTS

·Revenue up 144% over Q1 2002 to US$6.79MM ·Gross profits increase over 200% to US$1,159,848 ·Gross margin up 79%

Vancouver, BC -- August 14, 2002. StonePoint Group Limited (TSX Venture: SP, www.stonepoint.net) is pleased to announce record results for the second quarter ending June 30, 2002.

StonePoint Group Ltd. today reported higher sales and earnings for the second quarter ended June 30, 2002. Net income for the quarter rose by 55% to US$239,318 up from US$153,611 a year ago. Diluted earnings per share were US$0.004 or nil. Sales increased to US$6.79 million, an all-time high for the quarter, an increase of 78% over last year and 144% from Q1, 2002.

For the first half of the year, StonePoint Group Ltd. reported revenue of US$9.57 million an increase of 49.3% from a year ago. Net Earnings for the first half showed a loss of US$326,755, a reflection of continued investment in infrastructure for new business in the first quarter of this year.

"We are on track to have record performance for the year" said Ted Konyi, President of Stonepoint, "Our human and infrastructure investment from late last year and in Q1 of 2002 is paying off. We anticipate that this investment will support significant sales volume over the next few years without greatly increasing our expenses.

Konyi also added, Strong growth for the balance of the year in both our Custom Label and Private Label businesses is expected as we add new customers and expand on current relationships into new regions and other beverage sectors. All signs point to successfully reaching our targets for 2002."

Second Quarter 2002
The Companys sales reached a record US$6,787,606 for the second quarter, representing a 78% increase over second quarter 2001 and a sequential increase of 144% over the first quarter of 2002. Increase in sales can be contributed to new private label clients including Target Stores (nationally), Safeway Stores (Pacific Northwest region) and several other regional food retailers. Through the addition of new private label clients and the custom label operation, our largest client accounted for 55% of total sales in this quarter versus 100% in second quarter 2001.
Record gross profit of US$1,159,848 was achieved in this second quarter representing a 219% increase over second quarter 2001. More importantly, gross operating margin increased from 9.5% in second quarter 2001 to 17% in second quarter 2002. This significant increase can be primarily attributed to custom label sales.
Selling, general and administrative expenses sequentially increased by 7.9% over first quarter 2002 to US$884,471. This represents an increase of 235% over second quarter 2001. This increase is a direct result of the investment in human resources and technical infrastructure to service new business. It is anticipated that this investment will support significant sales volume without greatly increasing expenses.

Net earnings were a record US$239,318 for the quarter representing US$0.006 per issued share and US$.004 per fully diluted share or nil.

About StonePoint Group Limited
StonePoint Group Limited (www.stonepoint.net) produces, delivers and markets private and custom labelled spring water and carbonated beverages to traditional and non-traditional retailers worldwide. The Company offers a comprehensive and integrated suite of value-added services that include: brand development and management, package design, product deployment, manufacturing innovations, logistics, and applied quality assurance. Clients of StonePoint include Target, 7-Eleven, Safeway, Macy's, The Gap and Marriott Hotels. The Company maintains offices in Arizona, California, Florida, and British Columbia, and operates through a network of over 25 production facilities across North America. StonePoint trades on the TSX Venture Exchange under the symbol SP.
StonePoint Corporate ContactMr. Brad NightingalePhone: (604) 538-3461Fax: (604) 538-3407Toll Free: (888) 677-5188Email: bnightingale@stonepoint.net StonePoint Sales & DistributionMr. James BorkowskiPhone: (604) 538-3461Fax: (604) 538-3407Toll Free: (888) 677-5188Email: jborkowski@stonepoint.net