Amex Listing Qualifications Panel Decision

Amex Listing Qualifications Panel Decision 


WILLIAMSVILLE, N.Y., Sept. 27  /PRNewswire-FirstCall/ -- The American Stock
Exchange (Amex) has informed CVF Technologies Corporation (CVF) that the
Listing Qualifications Panel of the Amex Committee on Securities (the Panel)
has affirmed the decision of the Listing Qualifications Dept. of the Amex to
initiate delisting proceedings.

CVF had presented to the Panel its pro-forma non-consolidated balance sheet as
evidence that CVF meets the continued listing requirements of the Amex, since
this represents a more realistic picture of CVF's financial position.  However,
the Panel took the position that only CVF's consolidated financial statements
could be used in assessing CVF's meeting the Amex's continued listing
requirements.

CVF has the right to appeal this decision to the Amex's Full Committee on
Securities, and is considering its options at this time.

In the meantime, CVF's stock will be suspended from trading on the Amex,
effective as of Tuesday morning, September 28th 2004, even if an appeal is
launched.  However, CVF is expected to be quoted on the NASD OTC Bulletin Board
in the next few days.  Until then, CVF will be quoted on the Electronic Pink
Sheets.  CVF is also continuing its discussions with Canadian stock exchanges,
concerning the trading of its stock in Canada as well.

CVF understands the Amex Panel's decision to operate within the strictest
interpretation of its rules, but it feels its decision did not fully take into
account the unique structure of CVF as a publicly traded venture capital
company and the significant value of its portfolio companies.

In particular, CVF's ownership interest in Biorem was valued at $7.3 million
(US) based on the recent private placement in Biorem of $1 million (CDN) by a
Canadian based venture capital company.  Also, with Biorem now in the process
of completing its public offering transaction over the next 60-90 days (as
previously announced), it's expected that its carrying value will increase
significantly, supported by Biorem continuing on its rapid growth program.

In addition, the other companies in the CVF portfolio are continuing to make
progress, which will continue to add to CVF's asset value as well.

Though CVF would like to have continued to trade its stock on the Amex, the
ultimate trading price of CVF's stock will be determined by the asset value of
its portfolio holdings and this is expected to increase over the coming months.
 The exchange that CVF trades on will not determine that value.

CVF Technologies Corporation is headquartered in Williamsville, New York. CVF
is a technology development company, whose principal business is sourcing,
funding and managing emerging pre-public technology companies with significant
market potential. Founded in 1989, CVF's holdings include five companies
involved in primarily environmental products/services.

Certain statements made in this press release which are not historical facts
are made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. Investors are cautioned that these statements
involve risks and uncertainties, which may cause actual results or achievements
to be materially different from any future results and achievements expressed
or implied by the forward-looking statements. These risks include, but are not
limited to, product demand and market acceptance risks for the products and
technologies of CVF's subsidiary companies and investees; the impact of
competitive products, technologies and pricing; delays or difficulties in
developing, producing, testing and selling new products and technologies; the
ability of the company's subsidiaries and investees to obtain necessary
financing for their operations and to consummate initial public offerings of
their stock; the effect of the Company's accounting policies; the effect of
trade restrictions and other risks detailed in the company's Statement on Form
10-SB/A filed with the U.S. Securities and Exchange Commission and any
subsequent filings with the Commission. 

DATASOURCE: CVF Technologies Corporation



CONTACT:  Jeffrey I Dreben, President & CEO, [phone], or Robert

L. Miller, Chief Financial Officer, [phone], both of CVF Technologies

Corporation



Web site:  http://www.cvfcorp.com/ 

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