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BEVsystems To Merge With Alfresh Beverages Canada; Letter of Intent Signed by Both Boards.


Business Editors/Food Writers

NEW ORLEANS--(BUSINESS WIRE)--Sept. 12, 2002

BEVsystems International Inc. (OTCBB OTCBB

See OTC Bulletin Board (OTCBB).
:BEVS BEVS Baculovirus Expression Vector System
BEVS Build and Enhance Value Solutions
) today announced at the annual meeting of the National Investment Bankers Association in New Orleans New Orleans (ôr`lēənz –lənz, ôrlēnz`), city (2006 pop. 187,525), coextensive with Orleans parish, SE La., between the Mississippi River and Lake Pontchartrain, 107 mi (172 km) by water from the river mouth; founded  that it has signed a letter of intent to merge with Alfresh Beverages Canada, a privately held Nova Scotia ULC ULC Up (Stage) Left Center
ULC Universal Life Church
ULC Underwriters' Laboratories of Canada
ULC Ultra Light Client
ULC Ultra Low Cost (cellular phone)
ULC Urban Libraries Council
. Under terms of the intended merger, Alfresh will become a wholly owned subsidiary Wholly Owned Subsidiary

A subsidiary whose parent company owns 100% of its common stock.

Notes:
In other words, the parent company owns the company outright and there are no minority owners.
 of BEVsystems International Inc., and will continue to operate under the name Alfresh Beverages Canada. BEVsystems' Chairman and Chief Executive Officer Bob Tatum will lead the newly combined entity. Alfresh reported net sales Net Sales

The amount a seller receives from the buyer after costs associated with the sale are deducted.

Notes:
This amount is calculated by subtracting the following items from gross sales: merchandise returned for credit, allowances for damaged or missing goods, freight
 of CDN (Content Delivery Network) A system of distributed content on a large intranet or the public Internet in which copies of content are replicated and cached throughout the network.  $86.5 million and EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) A metric used to show a company's profitability, but not its cash flow. EBITDA became popular in the 1980s to show the potential profitability of leveraged buyouts, but has become  of CDN $3.47 million for its calendar year ended Dec. 31, 2001.

The closing of the acquisition is conditioned upon the satisfactory completion of due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired.  by both BEVsystems and Alfresh, the negotiation and execution of definitive agreements and the approval of BEVsystems stockholders. The transaction is structured as a share exchange between the companies' stockholders and has been approved by the boards of directors of both BEVsystems and Alfresh.

Based in Toronto, Ontario, Alfresh is the leading single-serve juice company in Canada and has been manufacturing quality fruit juice and drink products since 1969. Its brands are distributed throughout Canada, the U.S., the Caribbean and parts of Europe and Asia. Every day, more than one million Canadians consume an Alfresh juice or beverage.

"Since BEVsystems' inception, we have remained focused on building our brands, strengthening the licensing and distribution capabilities for our brands and allied brands, and identifying opportunities in the marketplace that are consistent with our strategic plan for growth," said Bob Tatum, chairman and chief executive officer of BEVsystems International. "Alfresh has created many high quality brands and a loyal customer base in Canada and other important markets. Consistent with our strategic plan, we believe that our intended merger of Alfresh will bring many benefits to BEVsystems, namely: a broader array of premium juice and beverage products; an expanded consumer base in attractive geographic locations around the world; multiple revenue streams through private label, allied sales, and licensing; increased manufacturing, production and distribution capabilities; and enable BEVsystems' management team to continue its quest to make the Company an established leader in the beverage industry and provide attractive returns to our shareholders."

Alfresh operates a 200,000 square foot manufacturing facility in Toronto and has approximately 150 employees. Today, Alfresh is one of Canada's leading beverage companies. Last year, the company produced more than 12.5 million cases of product in its Toronto bottling plant. Its juice products are branded under the names C-Plus, Fairlee, Everfresh, Tropical Grove, Maple Berry, Rich and Ready, Berried ber·ried  
adj.
1. Having or bearing berries: berried branches; a berried plant.

2. Resembling a berry or berries: "an off-dry, berried flavor" 
, and Sunlike. Alfresh co-packs for OceanSpray Cranberry and is the Canadian distributor for Arizona Iced Tea, Orangina, Stewart's and Tropical Rhythms. Alfresh distributes to more than 50,000 retail outlets and is the primary supplier of juice and beverages to Canadian airlines, school systems, hospitals and major food service management companies.

About BEVsystems International Inc.

Miami, Florida-based BEVsystems International Inc. (OTCBB:BEVS) is a fast-growing leader in the premium beverage industry. With sales in 22 countries, the success of its flagship Life02 SuperOxygenated Water brand, infused with up to 1,500 percent more oxygen via patented process and technology innovations, underscores BEVsystems' commitment to sales, marketing, and innovation to deliver superior quality beverage products. A recently published peer review study in The European Journal of Medical Research details the medical benefits of oxygen-enriched water. For more information, visit http://www.bevsystems.com.

"Safe Harbor Safe Harbor

1. A legal provision to reduce or eliminate liability as long as good faith is demonstrated.

2. A form of shark repellent implemented by a target company acquiring a business that is so poorly regulated that the target itself is less attractive.
 Statement" Under the Private Securities Litigation Reform Act The Private Securities Litigation Reform Act of 1995 (PSLRA) implemented several significant substantive changes affecting certain cases brought under the federal securities laws, including changes related to pleading, discovery, liability, class representation and awards fees and  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, product demand and market competition. You should independently investigate and fully understand all risks before making investment decisions.
COPYRIGHT 2002 Business Wire
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2002, Gale Group. All rights reserved. Gale Group is a Thomson Corporation Company.

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Publication:Business Wire
Geographic Code:1CANA
Date:Sep 12, 2002
Words:703
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