Company Press Release
Tasty Fries Resumes Assembly of its First 25 Production Machines and Expects to be Far Ahead of its Competition
BLUE BELL, Pa.--(BUSINESS WIRE)--Feb. 22, 1999--Tasty Fries Inc. (OTC:BB:TFRY) announced Monday that it has resumed the assembly of its proprietary French fry vending machine and expects to be ahead of its competition.
Tasty Fries has been slowed in completing its first 25 production models due to a delay in receiving expected funding. The Company announced that it has secured alternative funding and is resuming the assembly of its proprietary French fry vending machine.
This development comes on the heels of an announcement made last week by the Slonay, Switzerland Company, Tege, (a Tasty Fries competitor) that it posted a loss of US$6.8 million in 1998 after being in development of its French fry vending machine for five years and that it does not expect to post a profit until 2002.
Tasty Fries Inc. management believes notwithstanding TEGE's higher market capitalization and capital resources Tasty Fries is in the best position to capture market share and establish name recognition in the US$12 billion French fry market.
Tasty Fries has held successful demonstrations of its machines for the past three years in many types of facilities worldwide. This exhaustive time-tested preparation has enabled Tasty Fries to finish its mass production tooling program which will enable the Company to produce machines at significantly less cost than the original hand built prototypes and has insured machine reliability.
In other developments, the Company held a job fair in Portsmouth, New Hampshire and had over 50 companies attend and request to bid on the various sub assemblies. TFRY is in the process of receiving the agreements from these companies on the bidding process and expects to be in the position to make production decisions very soon.
The Tasty Fries(TM) vending machines are revolutionary in design. The multi-patented machines prepare, cook and dispense French fries with the flavor, aroma and texture of freshly cut French fries. Total vend time is less than 90 seconds and the fries are made from top-quality Idaho russet potatoes and cooked in cholesterol-free oil using state-of-the-art robotic technology.
The machines will be located worldwide in strategic high-traffic areas like airports, universities, bus and train stations, military bases, theaters, office buildings, schools, and in work and recreational venues.
For more information about this and other related developments, please visit the company's web site at www.tastyfries.com or call 1-877-827-8937 for a free investor's package.
Except for any historical information contained herein, the matters discussed in this press release contain ''forward looking statements'' that involve risks and uncertainties which are described in the company's SEC reports.
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