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PACIFIC ASIA TECHNOLOGIES COMPLETES SECOND TRANCHE OF BRIDGE FINANCING

 VANCOUVER, British Columbia, Aug. 23 /PRNewswire/ -- Pacific Asia Technologies Inc., (VSE: PFT.V) is pleased to announced that it has completed the second tranche of the previously announced bridge financing which forms the first stage of the refinancing program approved at the company's annual general meeting on May 20, 1993.
 Additional tranches are expected to be completed prior to the company preparing a public offering with a view to a listing on the National Market System of NASDAQ.
 Pacific Asia licenses and markets the world's leading Modified Atmosphere Packaging Technology (MAP). Originally developed at the University of British Columbia, Canada, MAP is a rapidly growing fresh produce packaging system. Use of this system reduces cost and waste and increases the quality, nutrition and flavor of fresh produce at the point of sale. The company's technologies, Maptek Fresh and Tamfresh, stabilize plant matter in whole, sliced of juice form in a state of hibernation. This in turn allows vegetables, fruit and flowers to retain the characteristics of freshness and "Ripe Pick" harvesting over an extended period reducing waste while maintaining high quality and nutritional value during low cost distribution. Maptek Fresh and Tamfresh are environmentally friendly, do not use chemicals, irradiation or additives and eliminate the need for genetic engineering to achieve optimum distribution characteristics.
 -0- 8/23/93
 /CONTACT: Roy Robinson, secretary, of Pacific Asia Technologies, Inc., 604-322-0759, or Sam Witchel of Scharff, Witchel & Co., Inc., 212-983-1060/


CO: Pacific Asia Technologies Inc. ST: British Columbia IN: SU:

MP-OS -- NY043 -- 5082 08/23/93 13:39 EDT
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Date:Aug 23, 1993
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