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HARVARD CAPITAL CORP. ANNOUNCES ELECTIONS

 HARVARD CAPITAL CORP. ANNOUNCES ELECTIONS
 VANCOUVER, British Columbia, June 24 /PRNewswire/ -- Harvard


Capital Corp. (Vancouver: HCC) today announced the election of the following directors at its annual general meeting of shareholders held in Vancouver today:
 The Right Honorable John N. Turner, P.C.. Edgar F. Kaiser Jr., Robert Annable, Neil T. Balte, Arthur Dalfen, Cyrus Driver, Robert Dunn and Peter Surrao.
 Dunn and Surrao are new directors, elected for the first time at this meeting. Dunn is Harvard's senior vice president and chief financial officer. Surrao is chief financial officer and a director of Kaiser Resources Ltd.
 Kaiser, chairman of Harvard's Executive Committee, chaired the shareholders' meeting and reported on the events surrounding the recent restructuring of the company's directors and management and Harvard's recent acquisition from Sedona Industries Ltd. of virtually world-wide production and marketing rights for its proprietary french fry vending machine. Kaiser also announced the completion of Harvard's private placement of $0.80 units, securing net proceeds of $2,201,500 for the company.
 Kaiser advised the meeting that he and the company's president and chief executive officer, Neil Balter, had held extensive discussions with the assembler of the vending machine in Korea on June 3-6, 1992, and that the new management team had conducted an exhaustive review of Harvard's business and marketing plan. Based upon these investigations, Kaiser expressed confidence that Harvard's french fry vending machine would be the best of its kind, with significant product quality, performance, and servicing advantages over any competing machines yet available.
 Balter reported to the shareholders on his recent meetings with prospective operators and distributors and confirmed a high level of awareness and interest in Harvard's machine in the vending industry.
 In response to questions, Kaiser confirmed that, in addition to the previously announced rollout of machines for site testing in the Northeastern United States, a parallel beta test will be conducted in Vancouver this summer.
 -0- 6/24/92
 /CONTACT: Robert Dunn, senior VP and CFO, 604-688-4883/
 (HCC.) CO: Harvard Capital Corp. ST: British Columbia IN: FIN SU: JL -- LA037 -- 3532 06/24/92 19:50 EDT
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Date:Jun 24, 1992
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