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 VANCOUVER, British Columbia, Sept. 1 /PRNewswire/ -- Following is a letter from Robert W. Dunn, senior vice president and chief financial officer of Harvard International Technologies Ltd. (NASDAQ: HITTF), in response to an article published in the Aug. 30, 1993, issue of Barron's:
 Aug. 31, 1993
 Mr. James P. Meagher, Editor
 Barron's National Business
 and Financial Weekly
 200 Liberty St.
 New York, NY 10281
 Dear Mr. Meagher:
 While we were disappointed to hear that Mr. Ed Wyatt of your staff does not like our french fries, we would like to make a brief demurral to some of the points in Mr. Wyatt's article.
 First, the original Vancouver investors Mr. Wyatt finds so objectionable are not involved in the current management of the company. We took over the company from them; they are not our partners now.
 Second, the article indicates that a previous agreement-in-principle for Spain had "fallen apart". The facts in this case are that the principals of Linford International S.A., the company with which we had announced an agreement-in-principle for Spain, during the course of negotiations, opted to form a new corporation, Pafrit S.A., in which to conduct the french fry vending business. Hence, nothing "fell apart" in the course of this negotiation.
 Third, although our merchant banking contract allowed Mr. Kaiser a 2-5 percent commission on funds raised from any financing, in fact those payments were waived on each of the financings done, a fact Mr. Wyatt could have known had he checked our public filings closely. In any event, the contract was terminated in June of 1993.
 Finally, while Mr. Wyatt is correct that there have been a number of notable failed attempts to make a reliable french fry vending machine, we do believe we will be the first to market a commercially viable machine. In proof of that statement, anyone with an interest and an appetite is invited to the NAMA trade show in Chicago's McCormick Place Sept. 30 to Oct. 3, where they can eat our fries from a production-line machine, and decide for themselves whether we've gotten it right.
 Sincerely yours,
 / S /
 Robert W. Dunn
 Senior Vice President
 & Chief Financial Officer
 cc: Mr. E.F. Kaiser, Jr.
 -0- 9/1/93
 /CONTACT: Robert W. Dunn of Harvard International Technologies, 604-688-4883/

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

ML -- NYON1 -- 7729 09/01/93 04:47 EDT
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Publication:PR Newswire
Date:Sep 1, 1993
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