First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

March 14, 2007 12:15 ET

First Venture Technologies Corp.: Queen's University Studies Find New Links Between Ethyl Carbamate in Alcoholic Beverages & Fermented Foods and Cancer Formation

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - March 14, 2007) - First Venture Technologies Corp. (TSX VENTURE:FEB) reports that a research team at Queen's University has confirmed links between certain types of alcoholic beverages and commonly consumed foods such as wine, cheese, yogurt and bread, all of which contain detectable amounts of ethyl carbamate ("EC"), with cancer. Their findings have been published online in a research paper released on March 7, 2007 in the Journal of Carcinogenesis. The team, led by Dr. Poh-Gek Forkert, found that vinyl carbamate, a naturally occurring carcinogen derived from ethyl carbamate (also known as "urethane"), found in fermented foods and alcoholic beverages, causes DNA modification and mutations, ultimately leading to abnormal cell growth and lung cancer.

"Studies confirming that ethyl carbamate can cause cancer continue to be published around the world," said Geoff Lee, First Venture's Director of Regional Development. "The unanswered question is, how much exposure to this carcinogen humans can accumulate and tolerate from a normal daily diet that may include wine, bread, soy sauce, yogurt and beer as well as other known food and beverage products containing EC?" He added, "It is important to note is that numerous scientists, medical specialists and regulators throughout North America and Europe continue to advocate the practice of reducing the exposure and amounts of carcinogens like ethyl carbamate in foods and beverages as much as may be technically possible. This presents a compelling market need for our proprietary yeast strains, which have been confirmed in published studies to reduce ethyl carbamate in wine substantially beyond currently known methods."

Dr. Linda Bisson, renowned wine yeast geneticist at the University of California at Davis, is one of several wine industry experts who has been evaluating the company's ethyl carbamate reducing yeasts. In a February 2007 Wines and Vines Magazine article about First Venture's proprietary yeasts entitled "New Yeast Reduces Ethyl Carbamate in Wine", Dr. Bisson is quoted as saying that "Reducing exposure to any carcinogen is a good practice."

First Venture is working actively with the wine industry and international regulatory community in a cooperative attempt to minimize and solve the natural formation of this carcinogen, ethyl carbamate, in consumer products at risk. The response from the wine industry has been very positive, and product trials are underway in the commercial field. In addition to the wine industry, the company has been fielding inquiries from multiple participants in other areas of the food and beverage industry where EC may be an issue. First Venture's first commercial product should be available prior to the end of 2007.

"The response from the food and beverage industry towards these ethyl carbamate reducing yeasts have been positive and logical," stated Mr. Lee. "If a food or beverage producer can produce a carcinogen-reduced product without altering the sensory attributes of that product (i.e.: taste, smell, texture), without altering their production process, and without having to increase the cost to the consumer, why would they not do so?" Mr. Lee added, "More importantly, why would a consumer choose to buy a carcinogen-exposed product when they could buy the identical product at the same price with reduced or eliminated carcinogen risk?"

First Venture will continue to report to shareholders on noteworthy scientific developments and studies as they become available. The Queen's University study is available at http://www.eurekalert.org/pub_releases/2007-03/qu-qsf030707.php.

ON BEHALF OF THE BOARD

Ron Paton, Director

ABOUT FIRST VENTURE TECHNOLOGIES

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.

WARNING: This news release contains forward-looking information, including but not limited to the expectation that the company's first commercial product should be available this year. This expectation is dependent, in part, upon the company securing purchase orders and a manufacturer for its first product, 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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