CVF Technologies Reports Year-End Results; SRE Controls, a CVF-Owned Subsidiary, Announces the Launching of Its Next Generation Controller.

Business Editors

LEWISTON, N.Y.--(BUSINESS WIRE)--April 4, 2001

CVF Technologies Corporation (AMEX: CNV) today reported financial results for its year ended December 31, 2000 (see attached table).

For the year ended December 31, 2000, revenue rose to $17.0 million, an increase of 2% from the fiscal year 1999. CVF's net loss for the year was $5.8 million, or $0.89 per share, compared to a net loss of $5.1 million, or $.77 per share in 1999. Year-end results were impacted by lower gross margins, higher expense levels and a delay in the launch of SRE Controls' new modular controller.

CVF has sufficient cash flow to further develop its portfolio in 2001. As of March 31st, the Company's liquid assets consist of over $2.5 million in cash and cash equivalents and $1.6 million in free trading shares of two public companies in which it has ownership interest, RDM Corporation (CDNX: RC) and Turbosonic Technologies, Inc. (OTCBB: TSTA). To further augment the growth of its holdings, some of CVF's portfolio companies are increasing their cash positions by offering third party private placements. In addition, CVF may at some time in the future look to obtain financing to increase its own cash position if needed. CVF is also working closely with its portfolio companies to reduce expenses in order to increase its profit margins, thus building upon both its profitable holdings and those holdings which currently carry a loss.

CVF's subsidiary, SRE Controls, which manufactures controllers for the electric vehicle and fuel cell market, is also announcing the launch of its next generation of modular controller. A controller takes energy from the battery and controls it in response to the operator's input, making it essentially the "brains of an electric vehicle." This new controller can be brought together in groups as needed, which allows it to be programmed for specific applications. In addition, it does not require any external contactors or relays (no mechanical parts that can break down or wear out) to operate. These are all unique features for SRE's controller in the electric vehicle market along with being approximately 20% more energy efficient.

Jeffrey I. Dreben, President & CEO of CVF Technologies Corporation stated, "Several events have occurred in the past two months that we believe signify a turning point in our prospects for 2001. SRE Controls retained Jefferies & Company, Inc. as its exclusive financial advisor in January 2001. SRE will benefit from Jefferies' relationships within the industry and expertise in the capital markets as it plans to market its new modular controller, which is now beginning to generate revenues for the Company. In March, CVF announced that it has increased its ownership in Ecoval Corporation to 88% and moved the Company's business operations to the United States from Canada. Ecoval, which develops and markets the "Nature's Glory" line of fertilizers, herbicides, fungicides and insecticides, will continue to focus its marketing efforts and establish key distributor relationships throughout North America. Ecoval's customers include Home Depot (NYSE: HD) and True Value Hardware Stores."

Mr. Dreben continued, "CVF's other holdings continued to progress as well in 2000. Highlights include:

- Biorem Technologies, which develops air filters that control odor and air
pollution for food processing and waste treatment areas, continued to mature in
2000 with a 64% increase in sales;

- Gemprint Corporation, specializing in the identification and registration of
diamond gemstones using laser technology, recently received extensive media
coverage in USA Today, The Wall Street Journal, Investor's Business Daily and
was featured in an episode of Law and Order on NBC in January 2001;

- Dantec Corporation, which maintains advanced process control for companies in
the food and grain industry, continued to add major accounts to a customer base
that includes Weston's, Frito Lay, Cargill, Kraft General Foods, The Kellogg
Company (NYSE: K), Ralston Purina, Mars and Maple Leaf Foods; and

- Petrozyme, a developer of bioreactors used in the treatment of oil and
chemical waste, received a contract to treat on-going production of oily waste
from a major U.S. oil refining company after successfully demonstrating its
technology on-site."

About CVF

CVF Technologies Corporation is headquartered in Lewiston, New York. CVF is a technology development company, whose principal business is sourcing, funding and managing emerging pre-public technology companies with significant market potential. Founded in 1989, CVF's holdings include nine companies involved in information technology and environmental products/services. CVF's majority owned companies include Ecoval Corporation, SRE Controls Inc, Gemprint Corporation, Dantec Corporation, Petrozyme Technologies, Inc., Biorem Corporation and Elements. CVF also has ownership interests in Turbosonic Technologies, Inc. (OTCBB: TSTA) and RDM Corporation (CDNX: RC). Additional information on the Company is available at the www.cvfcorp.com website.

This press release contains forward-looking statements. The words and phrases "believe," "expect," "intend," "anticipate," "is poised for," and "project," and similar expressions identify forward-looking statements, which speak only as of the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. Forward-looking statements are inherently subject to risks and uncertainties, some of which cannot be predicted or quantified. Future events and actual results could differ materially from those set forth in, contemplated by, or underlying the forward-looking statements. The risks and uncertainties to which forward-looking statements are subject include, but are not limited to, the effect of government regulation and, the risks associated with investment in small development-stage companies, including uncertain demand for and acceptance of the companies' products, insufficient capital, and competition from larger and/or better financed competitors, and other risks detailed from time to time in the Company's filings with the Securities and Exchange Commission.

             CVF TECHNOLOGIES CORPORATION AND SUBSIDIARIES
                      CONSOLIDATED BALANCE SHEETS
                               (AUDITED)

                                         December 31,    December 31,
                                             2000            1999
                                               $               $
                                         -----------     -----------
                    ASSETS
CURRENT ASSETS:
  Cash and cash equivalents                  495,642       3,557,706
  Short-term investments                     261,866             -
  Restricted cash                            185,501         185,900
  Trade receivables                        2,370,247       2,112,478
  Inventory                                1,488,466         975,027
  Prepaid expenses and other                  87,852          69,044
  Income taxes receivable                  2,532,003       1,162,253
                                         -----------     -----------
      TOTAL CURRENT ASSETS                 7,421,577       8,062,408

PROPERTY AND EQUIPMENT, net of
 accumulated depreciation                    347,533         479,732
HOLDINGS, carried at cost or equity          491,904       2,162,198
HOLDINGS (in public companies)
 AVAILABLE FOR SALE,  at market            4,524,422       2,160,028
TECHNOLOGY                                 1,900,497             -
GOODWILL, net of accumulated amortization  6,134,929       7,539,917
                                         -----------     -----------
      TOTAL ASSETS                        20,820,862      20,404,283
                                         ===========     ===========

     LIABILITIES AND STOCKHOLDERS' EQUITY

CURRENT LIABILITIES:
  Bank indebtedness (subsidiary)             188,150         377,144
  Current portion of long-term debt
   (subsidiary)                              281,259         249,264
  Subsidiary loans in breach of covenants    309,324         248,273
  Trade payables                           3,440,854       1,970,672
  Accrued liabilities                        611,726         993,544
  Dividends payable on Series A and
   Series B preferred stock                   11,384         144,592
  Dividends payable on subsidiary's shares   307,579         267,266
  Debt equivalent (subsidiary)               487,056         567,768
                                         -----------     -----------
      TOTAL CURRENT LIABILITIES            5,637,332       4,818,523
                                         -----------     -----------

LONG-TERM DEBT (subsidiary)                   66,720         275,675
DEFERRED INCOME TAXES                      1,917,060          51,841
MINORITY INTEREST                          3,662,770       4,374,664
PENSION OBLIGATION                           491,794         517,848
PREFERRED STOCK OF SUBSIDIARIES              245,813         255,097
                                         -----------     -----------
                                           6,384,157       5,475,125
                                         -----------     -----------
REDEEMABLE SERIES A PREFERRED STOCK           66,521         456,250
                                         -----------     -----------
                                          12,088,010      10,749,898
                                         -----------     -----------
STOCKHOLDERS' EQUITY:
  Common stock, $0.001 par value,
   authorized 50,000,000 shares,
   8,935,296 issued and
   440,700 in treasury                         9,376           7,293
  Series B convertible preferred stock,
   $0.001 par value, liquidation
   preference of 30% of stated value,
   authorized, issued and outstanding
   350,000 shares                                350             350
  Warrants                                   629,447         504,351
  Additional paid in capital              26,638,313      22,077,795
  Treasury stock                          (2,711,889)     (2,699,779)
  Accumulated other comprehensive income   1,173,596          22,963
  Accumulated deficit                    (17,006,341)    (10,258,588)
                                         -----------     -----------
      TOTAL STOCKHOLDERS' EQUITY           8,732,852       9,654,385
                                         -----------     -----------
      TOTAL LIABILITIES AND
       STOCKHOLDERS' EQUITY               20,820,862      20,404,283
                                         ===========     ===========


             CVF TECHNOLOGIES CORPORATION AND SUBSIDIARIES
                 CONSOLIDATED STATEMENTS OF OPERATIONS

                               (AUDITED)

                                            Year ended December 31,
                                             2000            1999
                                               $               $
                                         -----------     -----------

SALES                                     17,001,189      16,689,360

Cost of sales                             14,869,041      13,980,263
                                         -----------     -----------

Gross margin                               2,132,148       2,709,097
                                         -----------     -----------

EXPENSES:
  Selling, general and administrative      7,424,993       7,051,947
  Research and development                   721,905         638,146
                                         -----------     -----------
      Total expenses                       8,146,898       7,690,093
                                         -----------     -----------

(Loss) from operations                    (6,014,750)     (4,980,996)
                                         -----------     -----------

Other income and (expenses)
  Interest (expense), net                    (70,929)        (60,325)
  Other income, net                          124,802         282,395
  (Loss) from equity investees            (1,634,367)     (1,292,600)
  Gain (loss) on sale of holdings            412,917         (97,720)
                                         -----------     -----------
      Total other income and (expenses)   (1,167,577)     (1,168,250)
                                         -----------     -----------

(Loss) before (recovery of) income
 taxes, cumulative effect of an
 accounting change, minority interest
 and extraordinary item                   (7,182,327)     (6,149,246)

(Recovery of) income taxes                  (439,566)       (920,467)
                                         -----------     -----------

(Loss) before the following:              (6,742,761)     (5,228,779)
  Cumulative effect of a change in
   accounting principle net of tax               -          (253,154)
  Minority interest in loss                  633,585         395,780

                                         -----------     -----------
Net (loss) before extraordinary item      (6,109,176)     (5,086,153)
Extraordinary gain                           216,095             -

                                         -----------     -----------
Net (loss)                                (5,893,081)     (5,086,153)
                                         ===========     ===========

Basic (loss) per share
(Loss) before cumulative effect of a
 change in accounting principle                (0.92)          (0.73)
Cumulative effect of a change in
 accounting principle                           -              (0.04)

                                         -----------     -----------
Net (loss) per share before
 extraordinary item                            (0.92)          (0.77)
  Extraordinary gain per share                  0.03            -
                                         -----------     -----------
Net (loss) per share                           (0.89)          (0.77)
                                         ===========     ===========
Diluted (loss) per share                       (0.89)          (0.77)
                                         ===========     ===========

WEIGHTED SHARES USED IN COMPUTATION
 - BASIC                                   7,543,336       6,722,997
                                         ===========     ===========
WEIGHTED SHARES USED IN COMPUTATION
 - DILUTED                                 7,543,336       6,722,997
                                         ===========     ===========