First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

July 18, 2005 13:23 ET

First Venture Reports Update on Commercialization of Wine Yeast

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - July 18, 2005) - First Venture Technologies Corp. (TSX VENTURE:FEB) reports that it has entered into an agreement with a major international yeast company for pilot-scale production of its genetically enhanced red wine yeast. The active dry yeast will be used for commercial scale wine production trials scheduled for late summer, 2005. Sensory analyses of the wine is scheduled for fall and winter, 2005.

"We're very excited to be taking this next step in the process of commercializing our enhanced yeast," said Geoff Lee, Executive Director and Chief Financial Officer. "We've reached a major milestone with this production agreement. Results from production trials and the sensory analyses will provide the necessary data to show that wines made with our yeast have dramatically reduced ethyl carbamate levels yet are not compromised in any way. We will also begin distributing samples of our yeast to US and other international wineries."

First Venture also reports that it has signed an agreement with a local contract research organization to independently verify ethyl carbamate data collected recently from wines sold at local liquor stores.

ON BEHALF OF THE BOARD

Howard Louie, President & CEO

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.


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

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