BEVsystems International Inc. Reports Full Year 2002 Results.

Business Editors

BEVsystems International Inc. (OTCBB:BEVS) today reported the combined financial results for its fiscal year ended March 30, 2002. As has been previously reported, BEVsystems acquired Aqua Clara Bottling and Distribution Inc. on Feb. 25, 2002, in a reverse-merger transaction. Aqua Clara (renamed BEVsystems International Inc.) was the surviving company from a legal perspective and thus continues its public-company reporting obligations.

From an accounting perspective, BEVsystems International Ltd. acquired Aqua Clara, thus all financial information in the financial statements is presented using generally accepted accounting principles for purchase accounting and includes BEVsystems' results for the eight and one-half month period from July 13, 2001, (the date on which BEVsystems acquired the Life O2 business and began operations) to March 30, 2002, and Aqua Clara's results for the five-week period from Feb. 25, 2002, to March 30, 2002.

Investors are therefore cautioned that comparisons to the former Aqua Clara's financial results from previous periods are not relevant.

BEVsystems' shortened first year of operations was highlighted by many significant accomplishments:

-- Purchased the Life O2 SuperOxygenated Water business in July 2001.

-- Hired a seasoned management team with extensive beverage industry experience.

-- Launched the Life O2 brand in the United States starting with the South Florida market.

-- Attained penetration in over 800 accounts, including national chains such as Whole Foods, Wild Oats and Walgreen's.

-- Formed a five-year strategic partnership for the distribution of Life O2 in key Asian countries, including Japan, Korea, Philippines, China and Taiwan.

-- Launched in Chile and signed agreements for Australia and New Zealand.

-- Commenced home and office delivery with two distributors.

-- Launched Life O2 products in the five boroughs of metropolitan New York with agreement of a major distributor.

-- Purchased Aqua Clara Bottling and Distribution Inc. in Clearwater, Fla., in order to gain control of a bottling facility.

-- Installed proprietary technology in the Aqua Clara bottling facility and began production of Life O2 products for distribution in Florida and New York.

"I am very pleased with our first eight and a half months of operations," said Bob Tatum, chairman and chief executive officer of BEVsystems International. "We have made significant strides in establishing Life02 as the premium brand of super-oxygenated bottled water and we are on schedule with our U.S. launch. In addition, the Aqua Clara acquisition has given us control of a modern bottling facility, which is allowing us to cost-effectively continue our U.S. launch."

Mr. Tatum also commented on the growth of BEVsystems' relationships with distributors, stating that: "BEVsystems has established the groundwork for a powerful distribution network here in the U.S and has secured important strategic relationships with licensing partners abroad. These investments have created a solid foundation for the company to continue its rapid growth and have allowed us to transition from a development-stage company to a fully functioning operating company in a very short period of time."

Revenues for the full year totaled $1.38 million with a net loss of $4.59 million. Shareholders Equity for the combined entities is $15.1 million at year-end.

BEVsystems will hold a conference call to discuss its fiscal year-end results today, July 12, at 11 a.m. EDT. Access to the call is as follows:

    United States: [phone]
    Outside the United States: [phone]
    PASSCODE: BEVS

    A replay of the July 12 call will be available through 6 p.m. EDT
    July 15. Access to the replay is as follows:
        United States: [phone]
        Outside the United States: [phone]

About BEVsystems International Inc.

Miami-based BEVsystems International Inc. (OTCBB:BEVS) is a fast-growing leader in the premium beverage industry. Its popular Life02 SuperOxygenated Water brand, infused with up to 1,500 percent more oxygen via patented process technologies, is sold in more than 22 countries. A recently published peer review study in The European Journal of Medical Research details the medical benefits of oxygen-enriched water. BEVsystems embraces innovations in science and technology to deliver superior quality beverage products to consumers. Visit http://www.bevsystems.com.

Editor's Note: Digital photos and samples of Life O2 Water are available upon request, as well a copy of The European Journal of Medical Research peer review study.

"Safe Harbor Statement" Under the Private Securities Litigation Reform Act of 1995

This press release contains forward-looking statements that involve risks and uncertainties. The statements in this Release are forward-looking statements that are made pursuant to safe harbor provision of the Private Securities Litigation Reform Act of 1995. Actual results, events and performance could vary materially from those contemplated by these forward-looking statements. These statements involve known and unknown risks and uncertainties, which may cause the Company's actual results in future periods to differ materially from results expressed or implied by forward-looking statements. These risks and uncertainties include, among other things, growth rates, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.

             BEVsystems International, Inc. & Subsidiaries
                      CONSOLIDATED BALANCE SHEET
                           At March 30, 2002


                                ASSETS

Current assets
  Cash                                                    $     8,296
  Accounts receivable                                         106,143
  Inventory                                                    66,184
  Prepaid expenses and other current assets                   101,666
                                                          -----------

     Total current assets                                     282,289

Property, plant and equipment, net                          1,920,003

Intangible assets                                          18,113,032
                                                          -----------

     Total assets                                         $20,315,324
                                                          ===========


                 LIABILITIES AND SHAREHOLDERS' EQUITY

Current liabilities
  Accounts payable                                       $  1,203,281
  Accrued expenses                                          1,852,001
  Deposit                                                     400,000
  Notes payable                                             1,421,778
  Current portion of long-term debt                            13,073
                                                          -----------

     Total current liabilities                              4,890,133

  Long-term debt, net of current portion                      350,283
                                                          -----------

     Total liabilities                                      5,240,416
                                                          -----------

Shareholders' equity
  Preferred stock; no par value; 5,000,000
    shares authorized; 100 shares issued
    and outstanding; nonvoting and
    convertible into 174,825 shares of
    common stock                                               74,601
  Common stock; no par value; 100,000,000
    shares authorized; 38,431,125 shares
    issued and outstanding and additional
    paid-in capital                                        19,585,515
  Accumulated deficit                                      (4,585,208)
                                                          -----------

      Total shareholders' equity                           15,074,908
                                                          -----------

      Total liabilities and shareholders'
        equity                                           $ 20,315,324
                                                          ===========


             BEVsystems International, Inc. & Subsidiaries
                 CONSOLIDATED STATEMENT OF OPERATIONS
                      For the Year March 30, 2002


Net revenues                                             $  1,379,384
                                                          -----------

Costs and expenses
  Cost of revenues                                          1,457,354
  Selling and marketing                                     1,472,575
  General and administrative, including
    interest expense of $104,305                            3,034,663
                                                          -----------

     Total costs and expenses                               5,964,592
                                                          -----------

Net loss                                                 ($ 4,585,208)
                                                          ===========

Basic and diluted loss per common share                  ($      0.20)
                                                          -----------

Weighted average number of common shares
  outstanding                                              23,299,620
                                                          -----------