DENVER, Nov. 3 /PRNewswire-FirstCall/ -- Centennial Specialty Foods Corporation (Pink Sheets: CHLE) announced today that it has filed a Form 15 with the Securities and Exchange Commission which effectively terminates the Company's requirement to file reports under the Securities Exchange Act of 1934. The Company also announced that it is currently pursuing a voluntary removal from listing of its common stock on the Boston Stock Exchange as it does not meet the exchange's continued listing requirements. The Company's stock began trading on the "Pink Sheets" on October 26, 2005 as it was delisted from Nasdaq on that date and trading on the Boston Stock Exchange was subsequently suspended due to the Nasdaq delisting. The Company's common stock will continue to be eligible for quotation on the "Pink Sheets" as long as certain requirements continue to be met. The Company's board of directors previously authorized management to pursue a wide range of strategic alternatives in order to maximize shareholder value given the disappointing results of the Company's expansion into the California market. The Company has explored a number of options with various parties, but has been unable to reach definitive plans or agreements related to any strategic alternative. The Company has continued to incur operating losses through the nine months ended September 30, 2005. Its board of directors has therefore concluded that it is not cost effective to be an SEC reporting company, especially given Sarbanes-Oxley Act requirements. As previously disclosed in its June 30, 2005 10-QSB, the Company intends to reorganize its corporate overhead structure in an effort to reduce expenses. While the Company will incur certain costs related to the corporate overhead reorganization, significant future cost savings should result from the reduced overhead and the elimination of all SEC filing requirements. However, as a result of ceasing filing reports with the SEC, an investor's ability to obtain current financial information about the Company's operations and financial performance will be significantly reduced. Centennial Specialty Foods Corporation is a distributor of ethnic Southwestern food products. Its products are sold under the Stokes and Ellis labels, two well-known Southwestern brands. Principal channels of distribution for Centennial's products are grocery retailers, superstores and club stores in Colorado, Arizona, and, to a lesser extent, several major metropolitan markets in adjoining states. More information about Centennial can be found on its website at http://www.centennialspecialtyfoods.com/. Note Regarding Forward Looking Statements: Certain matters discussed in this press release could contain forward-looking information that involves risks and uncertainties that could cause actual results to differ materially from current trends or expected results. We identify forward looking statements through our use of words such as "expect," "believe," "project," "anticipate," and similar expressions. These risks that may affect our ability to achieve forward-looking statements are discussed in our final prospectus in the section entitled "Risk Factors" and other documents that are on file with the Securities and Exchange Commission. Stokes and Ellis are registered trademarks of Centennial Specialty Foods Corporation. DATASOURCE: Centennial Specialty Foods Corporation CONTACT: Jeffrey Nieder, CEO, or Douglas Evans, CFO, both of Centennial Specialty Foods Corporation, +1-303-292-4018 Web site: http://www.centennialspecialtyfoods.com/

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