AgriTec Systems Inc.
TSX VENTURE : AGR

AgriTec Systems Inc.

June 02, 2005 12:47 ET

AgriTec Systems Inc.: Early Warning Acquisition Report

HOUSTON, TEXAS--(CCNMatthews - June 2, 2005) - C. W. Wellen (the "Shareholder") is pleased to announce that he has subscribed for 25,000 preferred shares ("Preferred Shares") of AgriTec Systems Inc. (TSX VENTURE:AGR) ("AgriTec") at a subscription price of US $1.00 per Preferred Share. Each preferred share is convertible into 2 listed common shares of AgriTec. Assuming conversion of the Preferred Shares, the Shareholder has acquired and owns directly and indirectly 3,198,000 common shares of AgriTec, representing 19.13% of AgriTec's issued and outstanding voting securities as of this date and 15.98% of AgriTec's common shares on a fully diluted basis. The Preferred Shares were purchased by way of private placement and not through the facilities of a stock exchange or other published market. Immediately prior to the acquisition of the Preferred Shares, the Shareholder owned directly and indirectly 3,148,000 common shares of AgriTec.

The Shareholder has filed a report with the Securities Commissions of Alberta and British Columbia disclosing his ownership of 10% or more of AgriTec's issued and outstanding share capital. There is no agreement, commitment or understanding, whether formal or informal, between the Shareholder and any other person to acquire shares of AgriTec or to exercise voting rights attaching to the securities of AgriTec. The Shareholder acquired the Preferred Shares for investment purposes, and presently has no intention of acquiring any further securities of AgriTec. However, the Shareholder may acquire ownership or control over further securities of AgriTec in the future, depending upon market and other circumstances.

This news release is issued pursuant to section 111 of the Securities Act (British Columbia) and section 176 of the Securities Act (Alberta).

The TSX Venture Exchange does not accept responsibility for the adequacy or accuracy of this release.

Contact Information