Aqua Vie Beverage Corporation -- a Phoenix Rising.

KETCHUM, Idaho--(BUSINESS WIRE)--March 1, 1999--

Emerging Debt-free, With $14 Million In Loss

Carryforwards, Aqua Vie Gears Up for

International Launch -- Executive Interview is

at www.wallstreetreporter.com

Four years ago, Aqua Vie Beverage Corporation (OTC BB:AVBC), fell victim to a hostile takeover attempt.

The unsuccessful ploy, orchestrated by the company's then chief financial officer, mired Aqua Vie in legal process and uncertainty for nearly three and a half years. Emerging "bloodied but victorious," Thomas Gillespie, who founded the company and heads it today, is more resolute than ever about succeeding in a niche market he essentially created.

"It sounds strange, of course, but some bankruptcies can be positive. So, here we are debt-free, and with $14 million in loss carryforwards, with an excellent foundation for success in a niche market," says Gillespie. He admits that his preoccupation with the company's troubles, while Aqua Vie was fighting for its survival, kept him a bit out of touch with the competition. "When I again focused on the business at Interbev several months ago, I was refreshed to learn that no one had come close to replicating our market concept," he says.

As a result, Gillespie is preparing Aqua Vie for an international product launch in the midst of what appears to be pent-up demand for a product line that was perhaps a bit ahead of its time four years ago. New York, Florida and southern California will be the first mass markets to taste the fruits of Gillespie's labors, with Texas following shortly. According to Gillespie, expect to see a plethora of product in the Los Angeles area, concurrent with the company's West Coast roll-out, which includes spots on the Howard Stern Show. Gillespie admits that having product available in sufficient quantity is a bit of a "chicken-and-egg" problem, but with nearly 15 years' experience in the beverage business, and a solid background in marketing, he's up for the task.

"We've worked hard to create a strong distribution footprint, and every day we're more ready than we were," says Gillespie. In the meantime, curious and thirsty shareholders and consumers may order Aqua Vie products through the company's website at www.aquavie.com.

What, beyond his own determination, convinces Gillespie he can succeed is the product's ability to distinguish itself in the marketplace. "We have been pretty aggressive in our research, we've tapped the experts, and we know what works." Aqua Vie is North America's foremost developer and marketer of all-natural, lightly flavored still (non-carbonated) bottled spring water. The company's low-calorie alternative beverages are bacteria-free, and contain no preservatives. Aqua Vie also manufactures an all-natural, preservative-free, non-alcoholic wine and an all natural juice/smoothie. Based on flavorings and aromatics developed in collaboration with International Flavors and Fragrances, Inc. (NYSE:IFF), Aqua Vie has arrived at a product that seems "crisper, colder and wetter" than others in the field.

Aqua Vie's unique Hydrator(TM) line, available in seven distinct flavors, are "functional" beverages designed specifically to help consumers achieve the high levels of personal hydration so necessary for the maintenance of good health. These products, together with the company's E-Line(TM) and Aquaceuticals(TM), span two different segments of the market, "bottled water" and "soft drinks," which collectively comprise a domestic market in excess of $200 billion annually.

And, then there are non-alcoholic wines. "We have a proprietary ingredient that sensually is nearly identical to the effect of alcohol, with none of the associated prohibitions," says Gillespie. Saudi Arabia, which imposes a strict and absolute legal prohibition on alcohol, likes the idea, so does Israel (Aqua Vie beverages also bear the Kosher emblem), Gaza and a number of other East African nations. A recently executed distribution agreement with Batterjee Medical Services (BMS) of Saudi Arabia is expected to jump-start that market.

Aqua Vie, which recently completed a financing and hired an industry flavorings expert, is currently undergoing audit by Grant Thornton LLP and preparing to become fully reporting, also within the next 60 days. "It's been a tough battle, but one that has made us smarter, stronger, and more determined than ever," says Gillespie. "This time, we're well prepared to do it right."

To hear The Wall Street Reporter's interview with Tom Gillespie, founder, chairman and chief executive officer of Aqua Vie, tune in to www.wallstreetreporter.com.

Aqua Vie Beverage Corporation is North America's foremost developer and marketer of all-natural, lightly flavored, still (non-carbonated) bottled spring water. The company's low-calorie alternative beverages are bacteria-free and contain no preservatives. Aqua Vie also manufactures an all-natural, preservative-free, non-alcoholic wine and an all-natural juice/smoothie.

Visit the company's website at www.aquavie.com.

NOTE: Statements contained in this release that are not strictly historical are "forward-looking" within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. Editors and investors are cautioned that such forward-looking statements invoke risk and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, but are not limited to, demand for the company's product both domestically and abroad, the company's ability to continue to develop its market, general economic conditions, and other factors that may be more fully described in the company's literature and periodic filings with the Securities and Exchange Commission.