Innaugural ``Muhammad Ali Collectable Magazine'' Party a Hit for Silver Star.

Business Editors

NEW YORK--(BUSINESS WIRE)--May 23, 2002

Silver Star Media Group, a wholly owned subsidiary of Silver Star Foods, Inc., (OTCBB:SSTF), launched the "Muhammad Ali Collectable Magazine" yesterday with a spectacular party at Lola's, in Manhattan, N.Y.

The party was a huge success with over 150 guests attending. Russ Salzburg, UPN Channel 9sports anchor, was the MC for the star studded event. Bert Sugar, the editor in chief of the magazine, addressed the audience via videotaped message, due to his and Muhammad Ali's personal appearance in Washington D.C. to address Congress on the "Ali Act". Sports legends attending included Larry Holmes, former heavy weight champion of the world, Jose' Torres, former light-heavy weight champion of the world and Iran Barclay, former middleweight champion of the world. Noted celebrities attending included artist extraordinaire Leroy Neiman and many local media celebrities. A commemorative gift was presented to all attendees, including a copy of the Ali Collectable Magazine and Leroy Neiman's new book.

The first production run is completed and the Magazine will be available at Barnes & Nobles as well as on newsstands nationally, by the end of this month. Only 100,000 copies have been printed and SSTF President and CEO Michael Trotta expect them to sell out quickly. Trotta adds, "Copies can be ordered now on the Internet at www.alimagazine.com."

About SSTF:

The Silver Star name is one of the New York area's oldest and most renowned brand names in the frozen pasta industry. Silver Star Foods, Inc. is a distributor and wholesaler of stuffed and other frozen pasta products. The Company is currently focused on expanding its business horizons and formed Silver Star Media Group, Inc. to pursue business ventures involved in the media industry, such as this one. The Company is also aggressively seeking additional business opportunities across a wide spectrum of possibilities.

Safe Harbor Disclosure:

This release contains certain "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Those statements can be identified by the use of terminology such as "may," "will," "should," "could," "expects," "plans," and "intends." The Company's actual results may differ materially from those projected in these statements, and factors that could cause such differences include: downturns in economies; changes in consumer purchasing habits; changes in consumer eating habits; changes in consumer reading, purchasing or television viewing; unanticipated increases in paper, postage or printing costs; technology differences affecting methods of distribution such as the Internet; and operational problems at any of our contractual business partners. Additional future events and the future performance of the Company involve risks and uncertainties that could cause actual results to differ materially. These risks are described in further detail in the Company's reports filed with the Securities and Exchange Commission, accessible through their website at www.sec.gov. The Company is under no obligation to update any forward-looking statements after the date of this release.