Biofarm to Acquire United Currency Group, Inc.

Business Editors

LINFIELD, Pa.--(BUSINESS WIRE)--July 24, 2002

Biofarm, Inc. (OTCBB:BIOF) announced that it has signed a letter of intent to acquire 100% of the capital stock of United Currency Group, Inc. (UCG), a New York Corporation.

UCG allows day traders, enterprise clients, banks and other financial institution to trade currency through an electronic platform.

The platform permits customers to enter their own pricing, making each participant the equivalent of a market maker, similar in effect to the manner in which SOES (Small Order Execution System) permitted individual traders to become market makers on the NASDAQ market. This will give participants access to better execution prices on trades and thereby level the playing field for the small investors.

The currency market is the world's largest market, regularly trading $2-4 trillion per day. Currently, the markets are dominated by the world's largest banks, and smaller participants are forced to accept large spreads between the bid and offer prices. Compared with equities, traders have several advantages, including but not limited to, greater leverage, greater liquidity and a 24 hour marketplace.

UCG receives a fee for each transaction executed by its customers. UCG does not trade or speculate for its own account, and utilizes the services of regulated third parties for handling of customer funds and to obtain liquidity for its customers.

"Having access to public equity financing will permit UCG to continue to expand operations, principally through the opening of offices worldwide. Being public will also permit UCG to utilize its stock for the acquisition of other existing currency trading entities and thereby attempt to fulfill our goal of becoming the leader in electronic day trading of currencies," commented a spokesman for UCG.

Coincident with the acquisition of UCG, BIOF will transfer all of its assets and liabilities to a newly formed subsidiary. Shareholders of BIOF on the record date to be announced will retain their shares of BIOF Common Stock and will receive on a share-for-share basis shares in the new subsidiary.

The registration of the shares of the new subsidiary with the SEC will permit such new subsidiary to be publicly traded. A special meeting of the BIOF shareholders will be held to change the name of BIOF and to elect UCG nominees to the BIOF Board.

Biofarm, Inc. is a holding company with headquarters in Linfield, Pennsylvania.

Statements in this news release that relate to future plans, financial results or projections, events or performance, are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended. While these statements are made to convey to the public Biofarm's progress, business opportunities and growth prospects, readers are cautioned that such forward-looking statements represent management's opinion. While management believes such representations to be true and accurate based on information available to Biofarm at this time, actual results may differ materially from those described. In addition to the matters described in the press release, risk factors listed from time to time in the Company's SEC reports and filings, including, but not limited to, its report on Form 10-QSB for the quarter ended January 31, 2002, its report on Form 10-QSB for the quarter ended April 30, 2002, and its report on Form 10-KSB for the year ended October 31, 2001, may affect the results achieved by Biofarm.