PREMIUM SPRINGWATER AND JUICE COMPANY INC.



  TORONTO -- January 16, 1995 -- Premium Springwater and Juice Company Inc.

announces that it has been placed in receivership by its secured creditors.

The Company has requested that its shares cease to trade today. The Company is

traded on the Canadian Dealing Network under the symbol PRES.

  Any inquiries should be directed to the assigned receiver, Jasmine Inc.,

Attn: Richard K. Watson (416) 365-3358.

  /For further information: Richard K. Watson, Jasmine Inc.  (416) 365-3358/