Aqua Vie Beverage Corporation Formally Requests Stock Certificate Exchange.

KETCHUM, Idaho--(BUSINESS WIRE)--Dec. 15, 1998--Aqua Vie Beverage Corporation (OTC BB:AVBCD), announced today that it has made a formal request to the Depository Trust Corporation (DTC), the firm that holds most of Aqua Vie's stock in street name, to return all old Aqua Vie stock certificates with Cusip number 03838F-10-8 to the Company, in exchange for the new post reverse Aqua Vie certificates with Cusip number 03838F-20-7.

This formal request is pursuant to Aqua Vie's previously announced 1 for 5 reverse stock split that took effect on November 16th. This request was also made to individual shareholders of Aqua Vie and all other known organizations holding Aqua Vie shares. (It is requested that these certificates be returned to the attention of Pam Grey, Atlas Stock Transfer 5899 South State Street, Salt Lake City, Utah 84107.

As previously announced, the Board of Aqua Vie Beverage Corporation held a meeting on November 13th whereby the above mentioned 1 for 5 reverse split of its stock was discussed and approved. As announced on November 16th, this reverse stock split was one part of the corporate restructuring needed to facilitate a capital structure that would provide common stock for the planned late 1998 and early 1999 financing arrangements, to acquire the services of certain individuals, and to provide adequate funding to facilitate the 1999 World Wide Sales and Marketing Campaign.

Additionally, many shareholders that have held their shares for several years may have received a notice from the bankruptcy trustee concerning a hearing to be held on December 29, 1998. The purpose of this hearing is for the court to review and approve the trustee's and his attorney's final fees and expenses. Today's Aqua Vie Beverage Corporation, as it is now restructured, is not a party in this matter as this hearing only concerns the "old" corporation. The shareholders in the old corporation, whose investment positions were effectively eliminated in late 1997, pursuant to a court ordered bankruptcy liquidation sale, have had an ownership position renewed in the new Aqua Vie Beverage Corporation as one part of the corporate restructuring.

Tom Gillespie, President and Founder of the Aqua Vie Beverage Corporation stated that, "We were provided the ability and the opportunity to allow the public shareholders in the old Aqua Vie, to become shareholders in the new Aqua Vie, and decided that on behalf of the many loyal investors who have been long time supporters of Aqua Vie throughout the development and initial distribution of it's Functional Beverage Product Lines, to do just that."

Aqua Vie produces Hydrator(tm) low calorie all natural product line of seven lightly flavored non-carbonated spring waters, which were designed to increase one's personal consumption of water. The underlying technology also serves as the new delivery system for Aqua Vie's "nutritionally fortified" E Line(tm): Elixir(tm), Empower(tm), and Ecstasy(tm), its nutritionally specific Aquaceuticals(tm), and Aqua Vie's Non-Alcoholic Wine Beverages made from spring water.

For further information on Aqua Vie Beverage Corporation, visit our Web site at: http://www.aquavie.com.

This release may contain forward-looking statements that involve risks and uncertainties including, without limitation, continued acceptance of the company's products and services, increased levels of competition, new products and technological changes, the company's dependence upon financing, third-party suppliers and intellectual property rights, and other risks as may be detailed from time to time in the company's federal filings, annual report, offering memorandum, or prospectus.