USA: Food Technology Service, Inc. announces record revenues

Food Technology Service, Inc. (Nasdaq:VIFL) today announced a 730% increase in revenues for the nine months ended September 30, 2000. Total revenues for the period were $948,761 vs. $129,761, a record for the company. The increases are in consumer goods, packaging materials, beef, and poultry. The company anticipates forth quarter revenues to continue strong and finish the year with record revenues. "As we look forward to the year 2001 we expect our strategic partnerships with MDS Nordion, and food companies, such as Colorado Boxed Beef, Hormel and Hillandale Farms, will position us well to provide safer food products for the consumer," said Pete Ellis, President & CEO of Food Technology Service. Hormel Foods Corporation was the grand prize winner of irradiation services at the recent American Meat Institute Convention in Las Vegas. "We are excited about the opportunity to test irradiation with MDS Nordion and Food Technology Service," said Gary Ray, executive vice president of refrigerated foods, Hormel Foods Corporation. "Food safety is a top priority at Hormel and we are continually evaluating how, through new technology, we can provide the safest product to our customers." Food Technology Service, the country's most experienced commercial food irradiation company, is dedicated to preventing food-borne illness by working with the public health community and industry in a concerted, strategic effort to educate consumers about irradiation's role in food safety. Food Technology Service conducts ongoing testing and irradiation for major meat and poultry processors.