First Venture Technologies Corp.
TSX VENTURE : FEB

First Venture Technologies Corp.

August 08, 2006 09:00 ET

First Venture Yeasts Reduce Ethyl Carbamate Levels in Bread

VANCOUVER, BRITISH COLUMBIA--(CCNMatthews - Aug. 8, 2006) - First Venture Technologies Corp. (TSX VENTURE:FEB) reports that it has received laboratory confirmation that its functionally improved yeasts are effective in reducing ethyl carbamate levels in bread.

Multiple experiments conducted at the Wine Research Centre at The University of British Columbia have shown a reduction in ethyl carbamate (urethane) levels by as much as 54% in bread. "These results are potentially very significant for us," said Howard Louie, President and Chief Executive Officer. "In early 2006, at the 64th Meeting of the Food and Agricultural Organization / World Health Organization's Joint Expert Committee on Food Additives (JECFA), it was concluded that human exposure to ethyl carbamate for all intakes, food and alcoholic beverages combined, is of concern. Bread made with yeast have been reported to be a potential major source of ethyl carbamate ingestion (including by children) due to the high consumption pattern of these foods in peoples' basic diet."

"To date, we have not included bread yeast as a priority target market, as we had no data confirming that our yeast would be effective in reducing ethyl carbamate formation in grain-based products. This new data reflects potentially significant new advances to enter a yeast market for the company that is generally known to consume over 2 million metric tons of yeast per year."

ON BEHALF OF THE BOARD

Howard Louie, President and 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.

For further company information please access our website: www.firstventuretech.com

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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