Company to Pursue 4 Million-Dollar Acquisition.

CARSON CITY, Nev.--(BUSINESS WIRE)--March 7, 1999--The Board of Directors of Chill Tech Industries, Inc. (symbol: CHIL) have today voted to pursue the acquisition of Four Million U.S. dollars (US$ 4,000,000.00) worth of NASD approved assets in the form of television air time in one hundred twenty (120) major U.S. metropolitan markets.

The proposed acquisition would provide the company with a quick and effective means to create instant product recognition in the primary North American market (with in excess of 60,000,000 television viewers) as well as providing the asset base required to file for NASDAQ Small Cap status, a primary objective of the company that would provide accelerated growth and exposure on Wall Street.

Major nation-wide media exposure should provide both the publicity and impetus to develop major new accounts that could potentially reflect in revenues.

The proposed acquisition is contingent upon satisfactory due diligence which is expected to be completed within the next twenty-one (21) days at which time a final decision shall be made. The deal would limit the company's dilution to a maximum ten percent (10%) as the acquisition cost would entail no more than five percent (5%) restricted stock and five percent (5%) free trading stock, with buy back options.

The Board views this opportunity as a strategic and tactical move that will benefit the company not only in accelerated growth and increased revenues, but in elevating its status to the Small Cap level where a number of new windows of opportunity will open more easily.

The deal was developed by The Globus Group of Miami on behalf of the company (see www.globusgroup.com ).

Further details of the deal will be disclosed upon prudent due diligence. For other related news or additional information about Chill Tech Industries Inc., please visit our web site at www.chilltech.com or contact our Investor Relations at 888/931-9991.

The above statements regarding the business of Chill Tech Industries, Inc. are not purely historical rather are forward-looking statements within the meaning of the private Securities Litigation Reform Act of 1995, including Chill Tech Industries, Inc. beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to Chill Tech Industries, Inc. as of such date. It is important to note that actual outcome and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative and marketplace changes.