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VITAFORT INTERNATIONAL CORPORATION ANNOUNCES LETTER OF INTENT WITH KEY BANK OF MAINE TO ACQUIRE FISH FARM AND HATCHERY

VITAFORT INTERNATIONAL CORPORATION ANNOUNCES LETTER OF INTENT WITH KEY
 BANK OF MAINE TO ACQUIRE FISH FARM AND HATCHERY
 MILL VALLEY, Calif., Aug. 11 /PRNewswire/ -- Vitafort International Corporation (NASDAQ: VFRTC) (VIC) announced today that it had made a downpayment and entered into a letter of intent with Key Bank of Maine (the Bank) for its Crystal Clear Farms, Inc. (CCF) subsidiary to acquire a fish farm and hatchery in Maine including fixed assets, equipment and fish inventory from a wholly owned subsidiary of the bank for $6.5 million. Terms include a cash payment, 15 year mortgage on fixed assets, inventory financing and the issuance of VIC's preferred stock.
 The transaction is subject to the execution of a definitive agreement, certain regulatory matters and the bank's final credit approval, including arranging a $2 million operating credit facility, and Vitafort's ability to obtain an additional equity financing in excess of $1,000,000 by Dec. 1, 1992. This purchase allows VIC to meet and exceed the asset and equity requirements of NASDAQ.
 -0- 8/11/92
 /CONTACT: Frank A. Corsini, president of Vitafort International, 415-388-3738/
 (VFRTC) CO: Vitafort International Corp.; Crystal Clear Farms, Inc. ST: California IN: FOD SU: TNM


SM-LR -- NY045 -- 8937 08/11/92 11:52 EDT
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Date:Aug 11, 1992
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