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HARVARD INTERNATIONAL TECHNOLOGIES SUBSIDIARY SIGNS 10-YEAR LICENSE CONTRACT FOR BRAZIL AND BRITISH GUYANA

 VANCOUVER, British Columbia, Aug. 5 /PRNewswire/ -- Harvard International Technologies, Ltd. (NASDAQ: HITTF; VSE: HITV), manufacturers and marketers of a 50-second French fry vending system, announced today that Harvard Capital International Corporation (HCIC), its wholly owned international marketing subsidiary based in Barbados, has signed an exclusive 10-year master license contract with Rubens Apovian, Sao Paulo, Brazil, for the distribution of Harvard's SPUD STOP(TM) French fry vending system in Brazil and British Guyana for a license fee of US$200,000. Minimum value covering license fees, purchases of vending machines and purchases of the proprietary powdered potato product is US$38,315,800 which includes US$2,190,000 in the first year commencing Aug. 1, 1993. First deliveries are scheduled for October 1993.
 Total 10-year minimum purchases will be 1,600 vending machines and 8.3 million pounds of potato powder. This includes 200 machines and 181,500 pounds of potato powder in the first year. The contract includes a 5-year renewal option.
 Edgar F. Kaiser Jr., president and chief executive officer of Harvard International Technologies, said, "This contract, added to our previously announced contract for Spain and Portugal, brings total minimum 10-year commitments to US$121 million including more than US$3.8 million over the next 12 months.
 -0- 8/5/93
 /CONTACT: Robert W. Dunn, CFO of Harvard International Technologies, Ltd., 604-688-4883/
 (HITTF)


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

WB-OS -- NY045 -- 9815 08/05/93 10:59 EDT
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Publication:PR Newswire
Date:Aug 5, 1993
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