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HARVARD INTERNATIONAL TECHNOLOGIES RAISES US$2.42 MILLION IN EQUITY CAPITAL VIA EXERCISE OF WARRANTS TO PURCHASE 302,500 COMMON SHARES

 VANCOUVER, British Columbia, Sept. 28 /PRNewswire/ -- Harvard International Technologies Ltd. (AMEX: FRY), a development stage company engaged in the manufacturing and marketing of the Spud Stop(TM) 50-second french fry vending system, announced today that it had raised US$2.42 million in equity capital from the exercise of previously issued warrants to purchase 302,500 common shares.
 Edgar F. Kaiser Jr., Harvard's president and chief executive officer, said, "We are pleased with our investors' support of the company as demonstrated by the early exercise of over 85 percent of our outstanding warrants."
 The warrants were originally issued as part of a March 1993 private placement and were exercisable at a price of US$10.00 per share until March 1995. The company obtained the early exercise of the warrants by reducing the exercise price to US$8.00 per share and undertaking to use its best efforts to file, on or before Dec. 15, 1993, a registration statement covering the shares issued both on the exercise of the warrants and in the March 1993 private placement.
 -0- 9/28/93
 /CONTACT: Robert W. Dunn, CFO of Harvard International Technologies, 604-688-4883/
 (FRY)


CO: Harvard International Technologies Ltd. ST: British Columbia IN: SU:

GK-SH -- NY030 -- 6267 09/28/93 09:52 EDT
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Publication:PR Newswire
Date:Sep 28, 1993
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