Food Technology Service, Inc. Reports Quarterly Revenues

Business Wire, May 14, 2004

Business Editors/Health/Medical Writers

MULBERRY, Fla.--(BUSINESS WIRE)--May 14, 2004

Food Technology Service, Inc., (Nasdaq:VIFL) today announced results for the quarter ending March 31, 2004. Total revenue for the first quarter of 2004 was $240,315 compared to $412,467 for the same period in 2003. This is a decrease of about forty-two percent compared to the same period in 2003. Losses for this quarter were $124,302 compared to a profit of $39,487 during the first quarter of 2003.

Food Technology Service, Inc. CEO Dr. Richard Hunter said, "These revenues reflect the absence of a large customer that uses our services on an intermittent basis. Although our customer base continues to expand and diversify, large intermittent customers significantly influence our revenues."

Food Technology Service, Inc., the country's most experienced commercial food irradiation company, is dedicated to preventing food-borne illness by providing irradiation services for major meat and poultry processors. The company continues to work closely with the public health community and industry to educate consumers regarding the food safety benefits provided by irradiation.

Except for historical matters contained herein, the matters discussed in this press release are forward-looking statements and are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements reflect assumptions and involve risk and uncertainties that may affect business and prospects and cause actual results to differ materially from these forward-looking statements.