BLUE BELL, Pa., Feb. 25, 2002 (PRIMEZONE) -- Tasty Fries, Inc. (OTCBB:TFRY) announced today that it has received a purchase order agreement from SilverLeaf, the company's exclusive worldwide and US sales and marketing agent, to manufacture and provide 10,000 state-of-the-art French fry vending machines by 2004.
Delivery of production units will commence in July, 2002. The machines will be manufactured for Tasty Fries by Advantage Metal Product's (AMP) in Livermore, California.
"This is a gigantic step in Tasty Fries' efforts to dominate this part of the fast food vending industry," said Edward C. Kelly, President of Tasty Fries. "The size and scale of this order shows how serious and significant Tasty Fries entry into this fast-growing industry will be. The total value of this order will exceed $100,000,000 USD including ancillary products."
"This purchase order is another key step in building a powerful global brand", said David Morey, Vice President of Marketing for SilverLeaf and CEO of DMG, Inc. "It exemplifies the significant initial market penetration that Tasty Fries is establishing by delivering a highly differentiated product to consumers."
"We will produce 1,000 machines for Tasty Fries by December 2002," said Michael Segundo, Jr., President, AMP. "This order represents only the minimum manufacturing quantities based on Tasty Fries and SilverLeaf's pre-orders and projected needs. We have the capability to produce more machines as needed."
About Tasty Fries: Tasty Fries has developed a multi-patented vending machine that prepares, cooks and dispenses freshly made French fries with a superior flavor, aroma and texture. Total cooking time is approximately 90 seconds. The fries are made from top-quality potatoes and are cooked in cholesterol-free oil using state-of-the-art robotics technology.
About SilverLeaf: SilverLeaf is a global investment, marketing and sales organization comprised of a diverse team of corporate strategists, marketing, sales, management, vending and leasing experts and investment bankers.
Safe Harbor Statement: Except for historical information contained herein, the statements in this press release are forward-looking statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.