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NEWS RELEASE PERFECT FRY CORPORATION For Immediate Release Perfect Fry Reports Best Quarter in Company's History CALGARY (June 28, 2002) -- Perfect Fry Corporation reported today its second quarter revenue set a new record for the highest revenue for any quarter ever recorded in the Company's history. This follows a first quarter that also set a record, as the highest-ever first quarter revenue. For the second quarter ended April 30, revenue totaled $1,074,239, compared with second quarter revenue last year of $687,952, an increase of $386,287. The record first quarter had revenue of $729,677, which compares with $557,096 for the first quarter a year ago. The previous first quarter record was $615,234 set in 1997. "The strong growth in revenue the first two quarters this year has yielded a most encouraging profit at mid-year," said Gary Calderwood, president and CEO, "and this has put us on course for a very successful year." Mr. Calderwood added, "Our record revenues and profitability reflect well on our new marketing and sales initiatives, which are coming on stream just as economies internationally are beginning to recover from the recession." Second Quarter Results 2002 and 2001:
As at April 30, 2002, the Company had 9,788,656 common shares issued and outstanding. Perfect Fry manufactures and markets the world's most sophisticated counter-top deep fryer. Its patented air filtration and fire prevention systems, compact design, and quick, clean operation have made the Perfect Fryer a preferred choice among fast food retailers across North America and around the world. The common shares of Perfect Fry are listed for trading under the symbol PNM on the TSX Venture Exchange. The TSX Venture Exchange has neither approved nor disapproved of the information contained herein Contact: Sharon Wyatt
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