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 VANCOUVER, Aug. 16 /PRNewswire/ -- Pacific Asia today announced that it has signed an agreement whereby it will become the sole proprietor of Maptek Produce effective Aug. 19, 1993. Maptek Produce is the company's joint venture with Fresh Tech Inc of California. This acquisition is part of an amicable settlement of differences concerning marketing arrangements in North America which were the subject of press releases earlier this year. The settlement provides for the continued use of Maptek Fresh by Fresh-Tech's affiliates as licensees and for mutual co- operation in the promotion of Maptek Fresh in North America. However, in the future, Pacific Asia will receive all the benefits of licensing income and will be in full control of the exploitation of its Maptek Fresh technology for extending the life of fresh fruit juices.
 This move is in line with Pacific Asia's new strategy of separating "Strategic Alliance" partners from the users of its technology in order to prevent any possible conflict of interest. This strategy will give the company much greater flexibility in the marketing of its technologies, significantly accelerate development and will increase revenue flow in both short and medium term.
 The agreement to purchase Fresh Tech's 50 percent in Maptek Produce provides for a two part consideration.
 -- US$1.975 million to be paid over 5 years out of a percentage of licensing revenue developed with Fresh Tech.
 -- Warrants to purchase 440,000 common shares in Pacific Asia over the next 18 months at a price of Cdn$0.80 each.
 Pacific Asia licenses and markets the world's leading Modified Atmosphere Packaging Technology. Originally developed at the University of British Columbia, Canada, MAP is a rapidly growing fresh produce packaging system. Use of this system reduces cost and waste and increases the quality, nutrition and flavor of fresh produce at the point of sale. The company's technologies, Maptek Fresh and Tamfresh stabilize plant matter in whole, sliced or juice form in a state of hibernation. This in turn allows vegetables, fruit and flowers to retain the characteristics of freshness and "Ripe Pick" harvesting over an extended period reducing wastage while maintaining high quality and nutritional value during low cost distribution. Maptek Fresh and Tamfresh are environmentally friendly, do not use chemicals, irradiation or additives and eliminate the need for genetic engineering to achieve optimum distribution characteristics.
 -0- 8/16/93
 /CONTACT: Roy Robinson, Secretary of Pacific Asia, 604-322-0759, or Sam Witchel of Scharff, Witchel & Co., Inc., 212-983-1060/

CO: Pacific Asia ST: British Columbia IN: SU:

TM-OS -- NY095 -- 3281 08/16/93 17:07 EDT
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Publication:PR Newswire
Date:Aug 16, 1993

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