12 Million Financing Package Compliments Manufacturing Arrangement.

CARSON CITY, Nev.--(BUSINESS WIRE)--March 1, 1999--Chill Tech Industries, Inc. (symbol:CHIL) is pleased to announce that based on securing a manufacturing arrangement for the "Arctic Can," the company has today been offered a Twelve Million U.S. dollar (US$12,000,000.00) receivable financing package from a Florida based company, "The Globus Group" (see www.GlobusGroup.com).

A One Million U.S. dollar (US$1,000,000.00) per month receivable financing agreement would allow the company to collect eighty-seven point five percent (87.5%) of the invoice amount immediately upon shipment and another two point five percent (2.5%) percent within forty-five (45) days thereafter. This new source of financing would allow the company to pursue non-commercial contracts without disrupting cash flow, saving required capital for large manufacturing runs.

Management believes that this financing will be essential to have in place when acquiring large government and institutional contracts that otherwise might have been out of reach.

The financing package offered is based upon finalizing a manufacturing agreement with Gemi S.R.O. regarding the manufacturing of the "Arctic Can," a self-chilling beverage device.

Meetings are scheduled for late March in Dusseldorf, Germany at which time senior officials from both companies will finalize the terms, conditions and scheduling regarding the manufacturing of the Companies "Arctic Can." The company believes that GEMI S.R.O. has both the financial and resource capabilities required for the production of the "Arctic Can" for the North American market place (the United States, Canadian and Mexican markets).

Chill Tech Industries, Inc. is the North American licensee for the "Arctic Can," a technologically feasible, environmentally friendly beverage cooling device, designed and developed by the Will-bes & Co., Ltd. of Seoul, South Korea.

The company plans to release related announcements regarding such developments over the following weeks. For further information about Chill Tech Industries Inc., and the "Arctic Can," please visit the Web site at www.chilltech.com.

The above statements regarding the business of Chill Tech Industries, Inc. are not purely historical rather are forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995, including Chill Tech Industries, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Chill Tech Industries, Inc. as of such date. It is important to note that actual outcome and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes.