First Venture Technologies Corp.

First Venture Technologies Corp.

March 28, 2007 09:00 ET

Fabio Banducci Appointed a Director of First Venture Technologies

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2007) - First Venture Technologies Corp. (TSX VENTURE:FEB) is pleased to report that Fabio Banducci has joined its board of directors.

Mr. Banducci is president of Peer 1 Network Enterprises, Inc. (TSX VENTURE:PIX). He previously spent 12 years with Haywood Securities Inc. where he served as a director and head of its corporate finance department. He has been directly involved in numerous financial transactions in the private and public markets, both domestically and internationally, and has advised companies on matters relating to mergers and acquisitions, regulatory compliance and corporate governance. Mr. Banducci obtained a Bachelor of Applied Science degree from UBC, and an MBA from McGill University. He is a CFA charterholder and a member of the Vancouver Society of Financial Analysts.

"First Venture has benefited from Mr. Banducci's guidance as an advisory board member since September 2005, and we are pleased that he has agreed to apply his expertise as a director," said Howard Louie, First Venture's chief executive officer. "Mr. Banducci's skills in business finance and his working experience in the wine industry will even more greatly benefit the company in his role as a director."

The company also reports that it has granted stock options to its independent directors entitling them to purchase, for a period of five years, a total of 225,000 shares at a price of $1.17 each.


Ron Paton, Director


First Venture is a biotechnology company that develops and commercializes advanced yeast products. The company is currently commercializing a platform yeast technology that substantially reduces the formation of a known carcinogen, ethyl carbamate (or urethane) from food products and alcoholic beverages. The company has licensed the exclusive worldwide rights to the technology from The University of British Columbia (UBC), and is developing the technology in partnership with UBC's world-renowned Wine Research Centre.

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

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