CALGARY, ALBERTA--(Marketwire - April 2, 2012) - Arrowhead Water Products Ltd. (TSX:AWA) ("Arrowhead" or the "Company") reports its unaudited consolidated financial and operating results for the first quarter ended December 31, 2011. This is the first fiscal period that is being reported by the Company under the new IFRS rules. For complete disclosure of Arrowhead's financial results and Management's Discussion and Analysis ("MD&A"), please go to [ www.SEDAR.com ]and view documents listed under Arrowhead Water Products Ltd.

The Company also reports that it has now converted all major retail customers to the new innovative one-way environmentally friendly 15-litre PET bottle. As a result of this conversion from the traditional polycarbonate 18.9-litre (5 gallon) bottle, the Company has reduced its bottle deposit liability for the old 18.9-litre bottles with a $10 per bottle deposit from approximately $1.2 Million to approximately $5,000 on this date. Also, as part of this exercise, the Company has streamlined operations by moving all 15- litre bottling to its Edmonton plant and closed its Calgary plant, which has resulted in major cost savings. The Company has also been working closely with its retail vendors to ship product directly via distribution centres in Western Canada.

About Arrowhead Water

Arrowhead Water is Canada's largest Canadian owned, publicly traded water company which is engaged in the production, sale and distribution of large format bottled drinking water (including the new one-way environmentally friendly bisphenol A free 15-litre PET bottle). Arrowhead produces and delivers bottles of natural spring, reverse osmosis and pure distilled water to the Western Canadian retail and wholesale market.

READER ADVISORY

This news release may contain certain forward-looking statements, including management's assessment of future plans and operations, and capital expenditures and the timing thereof, that involve substantial known and unknown risks and uncertainties, certain of which are beyond the Company's control. Such risks and uncertainties include, without limitation, risks associated with oil and gas exploration, development, exploitation, production, marketing and transportation, loss of markets, volatility of commodity prices, currency fluctuations, imprecision of reserve estimates, environmental risks, competition from other producers, inability to retain drilling rigs and other services, delays resulting from or inability to obtain required regulatory approvals and ability to access sufficient capital from internal and external sources, the impact of general economic conditions in Canada, the United States and overseas, industry conditions, changes in laws and regulations (including the adoption of new environmental laws and regulations) and changes in how they are interpreted and enforced, increased competition, the lack of availability of qualified personnel or management, fluctuations in foreign exchange or interest rates, stock market volatility and market valuations of companies with respect to announced transactions and the final valuations thereof, and obtaining required approvals of regulatory authorities. The Company's actual results, performance or achievements could differ materially from those expressed in, or implied by, these forward-looking statements and, accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits, including the amount of proceeds, that the Company will derive therefrom. Readers are cautioned that the foregoing list of factors is not exhaustive. All subsequent forward-looking statements, whether written or oral, attributable to the Company or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. Furthermore, the forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the included forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required by applicable securities laws.

14,492,230 Common Shares Issued