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TASTY FRIES, INC. ANNOUNCES SETTLEMENT WITH CALIFORNIA FOOD AND VENDING.

BLUE BELL, Pa.--(BUSINESS WIRE)--February 6, 1995--Tasty Fries, Inc., (TFRY-BB) and California Food & Vending have successfully completed negotiations, resulting in a formal arrangement between the two companies which supercedes the arbitration award of October 26, 1994 in favor of California Food and Vending.

Mr. Edward C. Kelly, President of Tasty Fries stated, "The new agreement protects the financial posture of Tasty Fries and assures Tasty Fries shareholders of an exceptional growth opportunity, assuming we attain our very ambitious corporate objectives. Now that these difficult negotiations are behind us, the Company will immediately pursue maximum efforts to distribute our unique french fry vending machines worldwide."

"Even during the protracted negotiation with California Vending," Mr. Kelly noted, "we continued to improve the performance and reliability of our french fry vending machine. We are now prepared to proceed aggressively with our beta site tests."

Tasty Fries plans to release 10 pre-production machines for beta-site testing and evaluation in the second quarter of 1995. Full production is scheduled for the third quarter of 1995.

Tasty Fries' highly reliable automated French Fry Vending Machine will produce batch-to- batch, greaseless french fries with the taste and consistency of the best made-to-order french fries.

CONTACT: Tasty Fries, Inc.

Edward C. Kelly, 610/941-2109

or

Wolfe Axelrod Associates

Stephen D. Axelrod, 212/370-4500
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Publication:Business Wire
Date:Feb 6, 1995
Words:216
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