First Venture Technologies Corp.

First Venture Technologies Corp.

March 28, 2006 15:21 ET

First Venture Releases Update on Sake Yeast Program

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 28, 2006) - First Venture Technologies Corp. (TSX VENTURE:FEB) today released an update on its sake yeast development program. Two sake yeasts that were enhanced with the company's ethyl carbamate reducing technology are currently being evaluated at the Wine Research Centre at The University of British Columbia.

The evaluation's intention is to confirm the First Venture yeast's stability, functionality and substantial equivalence to the parent strains. Test results are expected within the next few months.

Sake and rice wines have been documented to contain relatively high levels of ethyl carbamate, and therefore their producers are believed to be an excellent target market for First Venture's proprietary yeasts.

"The sake and related rice wine yeast markets are key early adopters for us. Sake and rice wines comprise about one-fifth of all wines produced worldwide. First Venture has been very selective in transforming the most popular and widely used Sake yeast strains," commented First Venture's CEO, Howard Louie. Discussions have commenced with the key industry players and regulatory bodies for fermentation trials upon completion of the current phase of testing.

The company is also pleased to report that it has received notice that a patent has been granted in South Africa for its urea degrading yeast technology. The patent is valid until November 2022.


Issa Nakhleh, Director of Business Development


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 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.

WARNING: This news release contains forward-looking information. The reader is cautioned that assumptions used in the preparation of such information, although considered accurate at the time of preparation, may prove incorrect. The actual results achieved may vary materially from the information provided herein. Consequently, there is no representation by First Venture that actual results achieved will be the same as those forecast.

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

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