Perfect Fry Corporation
TSX VENTURE : PNM

Perfect Fry Corporation

October 16, 2009 09:07 ET

Perfect Fry Signs Technology License Agreement With SpinFry Inc.

CALGARY, ALBERTA--(Marketwire - Oct. 16, 2009) - Perfect Fry Corporation (TSX VENTURE:PNM) is pleased to announce that it has entered into a Technology License Agreement whereby Perfect Fry will assist in the design, development and manufacture of a new and innovative SpinFresh, ventless fryer that will cook a variety of foods including fries, wings, nuggets, rings and chicken fingers. Perfect Fry will incorporate SpinFry's patented centrifugal liquid extraction technology along with its own intellectual property pertaining to odorless technology, built-in fire suppression, advanced electronics and filtration to create this new innovative product. SpinFresh is a revolutionary new cooking system that spins off the fat and calories. In a recent independent 3rd party research study, up to 24% (as tested by Silliker Labs', an independent laboratory that specializes in food science) of the fat was reduced in french fries alone and over 48% of the oil typically absorbed during cooking was spun off. Fried food is left crispy on the outside and moist on the inside. The reduction of oil on the surface of the food leaves it much 'cleaner' and you can taste the natural flavor of the food the way it was meant to be enjoyed. SpinFresh cooking system is available for home use as well. It is sold under the George Foreman® brand and available in a variety of retail outlets, please view the link www.leanmeanfryer.com. To learn more about the total Spin Fresh experience and its unique benefits, please view the following link, www.spinfresh.com.

Gary Calderwood, President of Perfect Fry considers this opportunity to be strategic and timely. He notes, "As governments move to improve the health of the population, and youth in particular, we see an opportunity to provide another healthy alternative to existing foods. In the USA and Canada, obesity has dramatically escalated over the years. There is an obesity epidemic sweeping the globe. It's so prevalent; the WHO (World Health Organization) has dubbed it … "Globesity." At Perfect Fry, we have developed award winning new products and with our current distributor network and existing manufacturing infrastructure, we are very excited to be working with Spin Fresh in tackling these issues."

Rory Millikin, President, SpinFry Inc. states, "SpinFry Inc. is very pleased to be working with Perfect Fry to deliver a SpinFresh/Perfect Fry Ventless Countertop Cooking System to the market that utilizes SpinFry Inc's patented centrifugal technology. We believe this ventless countertop unit is ideally suited for schools and businesses that do not have the use of expensive overhead ventilation and fire suppression systems. Our patented process removes up to 24% of the fat from fried foods while creating a much better tasting product due to close to half of the cooking oil being spun off of the food. We believe that our technology will replace the traditional deep fryer as we know it today due to the alarming rise in obesity rates. Additionally, we believe our patented process represents the safest way to remove fat from fried foods as it does not involves using chemicals or genetically modifying food...simply put, we are a salad spinner combined with a deep fryer!"

This news release contains forward-looking statements, which relate to future events or future performance and reflect management's current expectations and assumptions. Such forward-looking statements reflect management's current beliefs and are based on assumptions made by and information currently available to the Company. Investors are cautioned that these forward looking statements are neither promises nor guarantees, and are subject to risks and uncertainties that may cause future results to differ materially from those expected. These forward-looking statements are made as of the date hereof and, except as required under applicable securities legislation, the Company does not assume any obligation to update or revise them to reflect new events or circumstances.

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

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