BLUE BELL, Pa., Oct. 30, 2001 (PRIMEZONE) -- Tasty Fries, Inc. (OTCBB:TFRY) announced today that it has been dismissed and released from a lawsuit which was brought against it in 1996 by Prize Frize, Inc. for misappropriation of trade secrets and unfair competition.
"We vigorously contested Prize Frize' claims from the outset," said Edward C. Kelly, Tasty Fries' President, "and we resolved to go to trial rather than pay one dime on a claim which had no merit."
Prize Frize contended that Tasty Fries used its technology to develop and manufacture the first commercially viable Underwriter Laboratory-approved french fry vending machine ever brought to the marketplace.
"Prize Frize gave up on its claims after examining one of our production machines in operation this summer," Kelly said. "We have a unique, fully patented product which bears no resemblance to anything they ever tried to do."
Prize Frize claims to be a distributor of a dehydrated potato product made by Basic American Foods (BAF). The Tasty Fries' french fry vending machines use a proprietary potato product manufactured exclusively for Tasty Fries by food giant Nestle. "As part of the dismissal," Kelly said, "no money or stock was exchanged and we secured a right to order the BAF product from Prize Frize; however, the Tasty Fries machine will not operate with the BAF product."
Tasty Fries(tm) multi-patented machines prepare, cook and dispense French fries with the flavor, aroma and texture of freshly cut French fries. Total cooking time is less than 90 seconds. The fries are made from top quality potato product, and cooked in cholesterol-free oil using state-of-the-art robotics technology.
For more information about this and other related developments, visit the Company's Web site at www.tastyfries.com or call 1-877-827-8937 for a free investor's package.
Except for any historical information contained herein, the matters discussed in this press release contain "Forward-looking statements" that involve risks and uncertainties, which are described in the Company's SEC reports.