Aqua Vie Beverages (fka AVBC)

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!NEWS! Aqua Vie Secures Private Funding of $1.2 Million;

Company Looks Toward Positive Cash Flow in 2002

KETCHUM, Idaho, Jan. 31 /PRNewswire-FirstCall/ -- Aqua Vie Beverage Corporation (OTC Bulletin Board: AVBC) announced today that it has entered into an agreement with a California-based venture group that will provide $1.2 million in bridge capital towards Aqua Vie's operations and inventory requirements for 2002.

Pursuant to the agreement, Aqua Vie will use a portion of the revenue generated through product sales to service the debt. As part of the same transaction, Aqua Vie has also arranged for an inventory credit line to become available by mid-year that is designed to build significant reserves and is subject to certain revenue benchmarks.

"Having cleared some major technical hurdles, with orders in hand and product ready to move, we are pleased to have negotiated this commitment along reasonable terms in such a difficult funding environment," said Thomas Gillespie, president and chief executive officer. "We are encouraged by the market acceptance we see developing for the Aqua Vie product line and we are confident this funding will help the Company turn the corner toward positive cash flow during 2002."

Gillespie indicated that Albertson's stores recently took delivery of product into its Northern and Southern California regions, and that in-store demonstrations will commence throughout Southern California during the first week of February.

Aqua Vie Beverage Corporation develops and markets all-natural, lightly flavored, still (non-carbonated) bottled spring water. The company's low-calorie alternative beverages are bacteria-free and contain no preservatives. Aqua Vie produces and markets the Hydrator(TM) line of beverages in the United States and Europe. This beverage line, comprised of seven low-calorie, all-natural beverages that are lightly flavored and packaged in half-liter bottles, is designed to increase one's personal consumption of water, naturally. The underlying technology also serves as the delivery system for Aqua Vie's new line of children's Hydrators(TM), PurePlay(TM), and Eau Vin(TM), Aqua Vie's line of nonalcoholic wine and champagnes made from spring water. For further information about Aqua Vie Beverage Corporation, visit the company's web site at www.aquavie.com .

NOTE: Statements contained in this news release not strictly historical are forward-looking within the meaning of the safe harbor clause of the Private Securities Litigation Reform Act of 1995. The company makes these statements based on information available to it as of the date of this news release and assumes no responsibility to update or revise such forward-looking statements. Editors and investors are cautioned that forward-looking statements invoke risk and uncertainties that may cause the company's actual results to differ materially from such forward-looking statements. These risks and uncertainties include, without limitation, demand for the company's product both domestically and abroad, the company's ability to continue to develop its market, general economic conditions, and other factors that may be more fully described in the company's literature and periodic filings with the Securities and Exchange Commission.


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SOURCE Aqua Vie Beverage Corporation

-0- 01/31/2002

/CONTACT: Thomas Gillespie, President, Chief Executive Officer of Aqua Vie Beverage Corporation, [phone]; or Madeleine Franco of Jordan Richard Assoc., [phone], [e-mail], for Aqua Vie Beverage Corporation/

/Web site: http://www.aquavie.com /

(AVBC)

CO: Aqua Vie Beverage Corporation ST: Idaho, California IN: FOD REA OTC SUP SU: VEN FNC



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