CANADIAN AGTECHNOLOGY UPDATES CORPORATE ACTIVITY.

CALGARY, ALBERTA--(BUSINESS WIRE)--March 23, 1995--Canadian Agtechnology Partners Incorporated (the "Corporation") (Alberta Stock Exchange: CAG) held a Special and Annual General meeting of Shareholders of the Corporation on March 16, 1995 and approved the purchase of a certain invention commonly known as the "Rod Pull Down Tool" or "Pull Down Pump." This technology is designed for, but not limited to, heavy oil production using sucker rod pumps. The patented design has the added function of accelerating the allowable speed of a sucker rod pump.

The shareholders further approved the consolidation of the issued and outstanding common shares of the Corporation on the basis of 1 new share for every 3 shares currently issued and outstanding.

As well approval was received to proceed with a private placement of its securities in order to obtain the cash proceeds required to complete the acquisition of the Pull Down Pump Technology and for working capital. The Corporation will issue 2,000,000 post consolidation common shares of the Corporation at a price of $0.20 per share.

Finally the shareholders approved the name change from Canadian Agtechnology Partners Incorporated to Pump Technology Inc.

The Board of Directors met following the Special and Annual meeting and ratified all of the above resolutions.

The Corporation is now proceeding to complete these matters as quickly as possible.

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Note to editors: The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: Canadian Agtechnology Partners Incorporated

W.J. Douglas Clark, 403/266-5151