Levi & Korsinsky is investigating the Board of Directors of Jones Soda Co. (“Jones Soda” or the “Company”) (NasdaqCM: JSDA) for possible breaches of fiduciary duty and other violations of state law in connection with their attempt to sell the Company to Reeds, Inc. ("Reeds") (NasdaqCM: REED). Under the terms of the transaction, Jones Soda shareholders will receive $0.10 in cash for each Jones Soda share they own plus 4.5 million shares of Reeds stock, in the aggregate. The offer values Jones Soda's stock at $0.37 per share, based on the closing price for Reed's shares the day before the announcement, for a total transaction value of approximately $9.7 million.

The investigation concerns whether the Jones Soda Board of Directors breached their fiduciary duties to Jones Soda shareholders given that (i) Jones Soda stock traded as high as $0.85 per share as recently as February 25, 2010; (ii) the Company has a book value in excess of $0.547 pre share; and (iii) at least one analyst set a price target for Jones Soda stock at $1.50 per share.

If you own common stock in Jones Soda and wish to obtain additional information, please contact us at the number listed below or visit http://www.zlk.com/jsda1.html.

Levi & Korsinsky has expertise in prosecuting investor securities litigation and extensive experience in actions involving financial fraud and represents investors throughout the nation, concentrating its practice in securities and shareholder litigation.

Copyright Business Wire 2010

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