PERFECT FRY CORPORATION

PNM, Alberta Stock Exchange

For immediate release

BIG IMPROVEMENT IN SECOND QUARTER

Calgary, June 22, 1998 - An excellent second quarter highlights Perfect Fry's financial results for six months ended April 30.

Unaudited financial statements show second quarter Revenues of $558,500, a 55% increase from $359,400 in the same period last year, and Net Earnings of $97,600, up from $7,800 last year.

The significance of the excellent second quarter results is that they reflect market acceptance of the company's new PFC model deep fryers. Sales were very good in Canada and the USA, and continue to improve in Australia.

Six months' financial results decreased from those of last year due to an unusually strong first quarter last year and a weak first quarter this year when the company was developing the new line of deep fryers.