The Fresh Juice Co. signs merger agreements with The Ultimate Juice Co. and Clear Springs Citrus; Combined company to have approximately $25 million in annual sales

Business Wire, April 1, 1996

GREAT NECK, N.Y.--(BUSINESS WIRE)--April 1, 1996--The Fresh Juice Co. Inc. (NASDAQ:FRSH) announced today that they have merged a wholly owned subsidiary of The Fresh Juice Co. Inc. with and into The Ultimate Juice Co. Inc. ("Ultimate").

In exchange for all of the outstanding shares of Ultimate, The Fresh Juice Co. will issue to Ultimate 1,140,000 new Fresh Juice Co. shares.

Ultimate is a private fresh squeezed juice company with headquarters in New Jersey. Ultimate markets and distributes fresh squeezed juice primarily on the east coast.

The Fresh Juice Co. has also signed a definitive merger agreement with Clear Springs Citrus Co. Inc. ("Clear Springs") to merge Clear Springs with a wholly owned subsidiary of The Fresh Juice Co. In exchange for all of the outstanding shares of Clear Springs, The Fresh Juice Co. plans to issue to Clear Springs 1,160,000 new Fresh Juice Co. shares. The Clear Springs merger is subject to shareholder approval of an ammendment to the Fresh Juice Company's Certificate of Incorporation to increase the number of its authorized capital stock in order to consummate such merger.

Clear Springs is a private fresh squeezed juice company with headquarters in Florida. Clear Springs operates a production facility and will be merging into The Fresh Juice Co. of Florida, a wholly owned subsidiary of The Fresh Juice Co., which operates the production facility for the Fresh Juice Co. Clear Springs produces, markets and distributes fresh squeezed juice. Clear Springs is the primary producer of fresh squeezed juice for Ultimate.

After effecting the two mergers, The Fresh Juice Co. will have approximately $25 million in annual sales.

CONTACT: The Fresh Juice Co. Inc.

Jeff Smith, 516/482-5190