First Venture Technologies Corp.

First Venture Technologies Corp.

December 18, 2007 09:00 ET

First Venture Appoints New President

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 18, 2007) - First Venture Technologies Corp. (TSX VENTURE:FEB) is pleased to announce the appointment of Geoff Lee as President.

Mr. Lee is a co-founder of First Venture. Working with senior management, he has played a key business role in the development of the company, including the ongoing raising of investment capital and the establishment of First Venture's Napa, California based sales, marketing and technical service operations. As President, Mr. Lee's responsibilities will now be directed to corporate finance, communications and investor relations.

Mr. Howard Louie, former company President, will continue in the positions of Chairman and Chief Executive Officer. Mr. Louie will continue, in an executive capacity, to work with senior management on corporate growth strategy, business development, and project finance.


Howard Louie, Chairman & CEO


First Venture Technologies is a biotechnology company that develops and commercializes advanced yeast products, and other novel biological products, for the food and the health care industries. The company is currently commercializing a platform yeast technology that substantially reduces the formation of a known carcinogen, ethyl carbamate (or urethane), from wines and other fermented beverages and foods. First Venture has licensed the exclusive worldwide rights to this technology from The University of British Columbia (UBC). The company is expanding the development of next generation products in this area, as well as evaluating new yeast based technologies with broad commercial market applications. In addition First Venture, through its wholly-owned subsidiary Phycobiologics Inc., is developing a platform of proprietary biological products for the animal and aquaculture health care markets utilizing proprietary science in the field of micro-algae.

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

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