NEWS RELEASE

PERFECT FRY CORPORATION

For Immediate Release

Revenues Set Record for Second Consecutive Year

Calgary, March 26, 2001 -- Perfect Fry Corporation (PNM-CDNX) announced today record revenues of $2.59 million for fiscal year 2000, the second year in a row the Company has achieved record gross revenues.
Revenues increased 5 percent over fiscal 1999, despite a difficult market in the second half of 2000. Net revenue for the fiscal year ending October 31, 2000, also showed a sharp increase, to $178,369, a rise of almost 50 percent over the previous year, while per-share earnings doubled to $0.02 compared with $0.01 for fiscal 1999.
“For gross sales to set another record in a particularly difficult year is very encouraging indeed,” said Gary Calderwood, President and CEO of Perfect Fry. “And we anticipate an even stronger future as our investment in promotion programs targeting larger clients begins to generate results in 2001.”

Mr. Calderwood said revenues in the second half were affected by the economic slowdown in 2000, particularly in the United States. However, despite this, sales of Perfect Fry units in the U.S. increased by an encouraging 13 percent.

	2000	1999
Gross Revenue	$2,593,912	$2,475,406
Net Revenue	$178,369	$119,073
Earnings Per Share	$0.02	$0.01

He explained that as the North American economies slowed, distributors handling the Company’s products in the U.S. received strong incentives from other manufacturers to concentrate on selling their products, diverting attention from Perfect Fry. Since then, the Company has taken steps to avoid similar difficulties.

As for fiscal 2001, Mr. Calderwood said the Company “is very excited about the potential results from our testing programs involving more than 80 fryers installed with numerous clients last year, including several high-profile companies in the food industry. We consider the effort and the costs associated to be worthwhile investments that will contribute substantially to shareholder value in 2001 and beyond.”

Perfect Fry manufactures one of the world’s most advanced counter-top deep fryers sold through representatives located in several countries around the world. The Company’s common shares are listed for trading on the Canadian Venture Exchange (CDNX) and trade under the symbol PNM. (USA 12G3-2(b) Exemption Number 82-1609)

Gary Calderwood, Investor Relations:(403)255-7712, Fax (403) 255-1725;
E-mail: invest@perfectfry.com
www.perfectfry.com

The Canadian Venture Exchange has neither approved nor disapproved of the contents of this announcement.