Prelude Ventures, Inc. Signs Letter of Intent to Acquire Alliance Petroleum, Inc and Tri State Stores, Inc., d/b/a Parts Plus

CALGARY, Alberta--Aug. 6, 2003--President and CEO of Prelude Ventures Inc, (OTCBB: PLUD), Anthony Sarvucci, announced today that they have entered into a Letter of Intent with Tri State Stores, Inc. d/b/a Parts Plus to acquire all of the common stock of the company.

As well Prelude Ventures Inc. has entered into a Letter of Intent with Alliance Petroleum, Inc. to acquire all of the company's common stock.

Upon closing corporate headquarters will be relocated to Chicago, Illinois, USA.

Prelude Ventures as well is in negotiations with a US based Investment Bank for a secondary offering. It is anticipated that a final agreement will be signed over the next few weeks. Prelude expects to qualify for listing on the NASDAQ SC or AMEX concurrent with the closing of a secondary.

Provided both acquisitions close, pending final due diligence, the combined company will have projected first year annual revenue in excess of $27 million US with earnings of approximately $2.5/3.0 million US, and assets of over $20 million US.

About Prelude Ventures Inc.

PRELUDE along with its divisions provides a wide variety of services in the Oil and Gas Infrastructure Industry. All of the divisions have from 10 to 25 years of experience in the Industry and have in the past and are presently operating on a solid financial basis with a combined value of US$10 million, with gross revenues of US $8.75 million and net earnings before tax and amortization of over US $1 million for their last fiscal period. All of Pascal's divisions are presently busy working on major projects.

About Tri State Stores, Inc

Tri State Stores, Inc., owns and operates 14 Parts Plus stores, one of the largest aftermarket program groups in North America. As well they own 45% of Motor Parts Warehouse, a wholesale distributor of auto parts to 3000 stores throughout the USA. They also have the option to purchase the remaining 55%, which they plan to exercise. Total sales look to exceed $15 million US this year.

About Alliance Petroleum, Inc.

Alliance Petroleum and its management have a long and successful history of supplying lubricant products to many segments of the market, including the major oil companies. They have compounded, blended and packaged for most major oil companies including Exxon, Valvoline, Chevron, Quaker State, Amoco and many others

Alliance Petroleum's current plant capacity is $72-$80 million a year with current operations at less than half capacity; the plant is located on 6 acres with 4 buildings totaling 90,000 sq. feet, management believes the company to be poised for explosive growth.

Safe Harbor Statement Under the Private Securities Litigation Reform Act of 1995: Forward-looking statements in this release with respect to Prelude Ventures business, financial condition and results of operations are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in the forward looking statements, including but not limited to, certain delays beyond Prelude Ventures control with market acceptance to new technologies, products, services, delays in testing and evaluation of products, the effect of Prelude Ventures accounting policies as well as certain other risk factors which are detailed from time to time in Prelude Ventures filings with the Securities and Exchange Commission. The consummation of the acquisition of the capital stock of Tri State Stores and Alliance Petroleum and its subsidiaries and affiliates by Prelude Ventures is subject to the ability of Prelude Ventures to negotiate and enter into a definitive acquisition agreement to acquire all of the capital stock of the aforementioned companies and their subsidiaries and affiliates, the ability of Prelude Ventures to procure the necessary funding necessary , the possibility of requiring stockholder approval and obtaining other regulatory approvals and consent.