SOURCE: World Wide Cannery & Distribution Inc; Seafood Factory

April 10, 2006 16:46 ET

World Wide Cannery and Distribution Inc. Announces Major Acquisition

BELLEAIR BLUFFS, FL -- (MARKET WIRE) -- April 10, 2006 --World Wide Cannery and Distribution Inc., (OTC: WWCD) is pleased to announce that it has acquired 100% of the Seafood Factory. Located in Prague, Czech Republic, the Seafood Factory produced close to 14.5 million Euros in revenue last year, the equivalent to roughly $17 million in US dollars by packaging and selling high-end seafood such as King Crab and caviar all over Europe, along with expansion into other parts of the world.

The final numbers are only a fraction of what Factory is capable of producing. The company did not have a distribution center last year and final European Union Certification was not achieved until late 2005. Therefore, the company was only operating at about 20% capacity. With all certifications in place, the Factory will be running at 100% efficiency.

Also, by having a distribution center, the Seafood Factory can now produce the necessary quantity of products to keep up with the overwhelming demand, something it could not do last year. They can also lease out its services and allow other companies to package and distribute their products, with a leasing fee paid to the Factory.

This is the first of many steps for World Wide Cannery and Distribution Inc., who earlier this month announced a major corporate makeover. The company announced plans to move more aggressively in the lucrative food manufacturing and distribution sector and this acquisition is the just the beginning of this new aggressive campaign.

More information on World Wide Cannery and Distribution and Seafood Factory can be found at http://www.seafood-factory.com.

Notes about forward-looking statements

Except for any historical information contained herein, the matters discussed in this press release contain forward-looking statements that involve risks and uncertainties.

Certain Statements contained in this release that are not historical facts constitute forward-looking statements, within the meaning of the Private Securities Litigation Reform Act of 1995, and are intended to be covered by the safe harbors created by that Act. Reliance should not be placed on forward-looking statements because they involve unknown risks, uncertainties and other factors which may cause actual results, performance or achievements to differ materially from those expressed or implied. Forward-looking statements may be identified by words such as "estimates," "anticipates," "projects," "plans," "expects," "intends," "believes," "may," "should" and similar expressions and by the context in which they are used. Such statements are based upon current expectations of the company and speak only as of the date made. The Company undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date when they are made.

Contact Information