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Frisby Technologies Announces New Agreement with Inventor

13 October 1998

Frisby Technologies Announces New Agreement with Inventor of its Thermal Management Technology

    BAY SHORE, N.Y., Oct. 13 -- Frisby Technologies, Inc.
, a developer of innovative thermal management solutions, today
announced an agreement with the inventor of the company's patented and
proprietary thermal management technology that will reduce Frisby's ongoing
royalty payments to the inventor by more than 50%.
    The terms of the compensation to the inventor, Triangle Research and
Development Corporation (TRDC), which holds the patents to the technology,
were not disclosed.
    Greg Frisby, president and chief executive officer of Frisby, said the
TRDC transaction, together with the recent strategic supply agreements with
the 3M Company and Foamex International ,
demonstrate Frisby's commitment to significantly enhance its future product
margins.  He noted that as an additional part of the announced agreement, TRDC
has assigned its rights to an agreement with another licensee of the
technology to Frisby, which will provide Frisby with additional revenue
streams.
    Mr. Frisby added: "This agreement enhances our relationship with the
inventor of our innovative technologies and provides us with significant
long-term cost savings going forward."
    Frisby Technologies is a developer of advanced thermal management
solutions for the apparel, footwear and sporting goods, packaging, home
furnishings, healthcare, automotive, aerospace and electronics industries.
Headquartered on Long Island, N.Y., Frisby currently offers new design
opportunities for selected industry leaders based on its two leading thermal
product lines: ComforTemp(R) insulating and cooling foams and Thermasorb(R)
thermal additives.  The company's proprietary and patented thermal management
technologies create a dynamic climate control system within its partners'
products that helps those products maintain predetermined temperatures and
unprecedented comfort.
    This press release contains certain forward-looking statements that relate
to Frisby Technologies' future plans and objectives.  Those statements are
subject to numerous risks and uncertainties that could cause actual results,
performance and achievements to differ materially from those described or
implied in the forward-looking statements, and reported results should not be
considered an indication of future performance.  Those potential risks and
uncertainties include, without limitation, the lack of an operating history
upon which Frisby Technologies and its prospects can be evaluated, the need
for further development of certain of Frisby Technologies' products, the
development of alternative technologies by third parties, and the uncertainty
of market acceptance and demand for such products in the future.  Those
potential risks and uncertainties are detailed in Frisby Technologies'
prospectus dated April 1, 1998, and the company's filings on Form 10-QSB with
the Securities and Exchange Commission.