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HARVARD INTERNATIONAL TECHNOLOGIES SUBSIDIARY SIGNS 10-YEAR LICENSE CONTRACT FOR SPAIN AND PORTUGAL

 VANCOUVER, British Columbia, June 29 /PRNewswire/ -- Harvard International Technologies, Ltd. (NASDAQ: HITTF; Vancouver: HITV), manufacturers and marketers of a 50-second french fry vending system, announced today the Harvard Capital International Corporation, (HCIC) its wholly owned international marketing subsidiary based in Barbados, has singed an exclusive 10 year master license contract with Pafrit S.A., Madrid for the distribution of Harvard's Spud Stop(TM) french fry vending system in Spain and Portugal for a master license fee of US $500,000. Minimum value covering license fees, and purchases of vending machines and potato powder is US $82,553,400 including US $1,630,000 in the first year. Total minimum purchases will be 2,787 vending machines and 19.5 million pounds of potato powder over the 10 year period with 144 machines and 99,000 pounds of potato powder to be delivered in the first year commencing July 1, 1993. Initial deliveries are scheduled for September 1993. The contract provides an additional 10 year renewal option.
 Edgar F. Kaiser, Jr., president and CEO of Harvard International Technologies, said, "We are pleased to announce this first multi-million dollar distribution contract for HCIC's proprietary vending machine system and anticipate that the minimum guarantees will be well exceeded over the 10 year renewable term. With a total population of more than 50 million, Spain and Portugal constitute a major market in the European Community and should provide a substantial platform for growth in Europe. HCIC is currently reviewing inquiries from more than 30 other countries."
 Developed by HCIC with patents pending, the Spud Stop vending system dispenses freshly cooked, golden french fries in only 50 seconds. It will be distributed in the United States and Canada by wholly-owned subsidiaries. The vending machine is manufactured for HCIC by Hanaro Industries Ltd., Korea, a company in which Harvard International Technologies holds an 18 percent interest. Other Hanaro owners include a subsidiary of Pohang Iron and Steel Co., the world's third largest steel manufacturer with assets totaling US $14 billion.
 -0- 6/29/93
 /CONTACT: Robert W. Dunn, CFO of Harvard International Technologies, 604-688-4887/
 (HITTF)


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

MP-LR -- NY020 -- 6607 06/29/93 10:03 EDT
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Date:Jun 29, 1993
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