BLUE BELL, Pa., Nov. 6, 2002 (PRIMEZONE) -- Tasty Fries(R), Inc. (OTCBB:TFRY) announced that on October 20, 2002, the United States Third Circuit Court of Appeal (the "Third Circuit") unanimously affirmed the District Court's Order denying SilverLeaf LLC's ("SilverLeaf") application for a preliminary injunction to prevent Tasty Fries from terminating its February 1,2002 Master Sales and Marketing Agreement (the "Agreement") which granted SilverLeaf an exclusive license to sell, Market and distribute Tasty Fries French fry vending machines. In Finding for Tasty Fries, the Third Circuit ruled: "The District Court correctly determined that the Agreement prohibited the issuance of an injunction to prevent Tasty Fries termination of SilverLeaf's exclusive license. Therefore, we find no abuse of discretion in the District Court's conclusion that SilverLeaf failed to demonstrate a reasonable probability of success on the merits." Tasty Fries Motion to Dismiss SilverLeaf's remaining case is set for hearing before the District Court on November 12, 2002.
About Tasty Fries:
Tasty Fries has developed a patent-protected vending machine that prepares, cooks and dispenses freshly made French fries with superior dietary attributes, flavor, aroma and texture. Total cooking time is approximately 90 seconds for each order, then under 60 seconds for subsequent orders. The fries are made from top-quality potatoes and are cooked in cholesterol-free oil using state-of-the-art robotics and technology.
Safe Harbor Statement:
Except for the historical information contained herein, the statements in this press release are 'forward-looking' statements that are made pursuant to the safe harbor provisions of the Private Securities Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause a company's actual results in the future to differ materially from forecasted results. These risks and uncertainties include, among other things, product price volatility, product demand, market competition and risk inherent in the operations of a company.