SOURCE: World Wide Cannery & Distribution Inc.

June 13, 2006 09:20 ET

World Wide Cannery Sells Its Ownership of the Seafood Factory, Eliminates Debt

NEW YORK, NY -- (MARKET WIRE) -- June 13, 2006 -- World Wide Cannery and Distribution Inc. (PINKSHEETS: WWCD) announces its decision to sell off its ownership stake in the Seafood Factory. Amphon Limited has purchased the Prague-based Factory for 1.1 million Pounds Sterling. The contract was signed on May 5th, 2006 and closing on the property has already occurred. This sale eliminates any further dealings with creditors and any legal proceedings that have taken place in the Czech Republic regarding the Factory and World Wide Cannery Inc.

Besides moving away from the legal complications and erasing company debt, another reason for the sale of the Factory is that World Wide Cannery and Distribution has decided to concentrate its efforts on the lucrative container shipping business, where it derived 80% of its revenue in 2005. Furthermore, with the assets gained from the sale, World Wide will continue to evaluate offers and pursue other viable commodities.

About World Wide Cannery and Distribution:

World Wide Cannery and Distribution Inc., (www.worldwidecannery.com), is a food manufacturing and distribution company. Looking to expand production, World Wide Cannery recently acquired the Prague-based Seafood Factory -- a food manufacturing and distribution center.

More information on World Wide Cannery and Distribution and Seafood Factory can be found at http://www.worldwidecannery.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.

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