Blue Vista Technology Inc. Announces Financing and Restructuring

   Blue Vista Technologies Inc. (TSX VENTURE: BV.H) ("the Company") is pleased to announce that the Company will be refinanced and restructured subject to shareholder approval at its upcoming Annual and Special Meeting of Shareholders to be held on December 30, 2010. The Information Circular of the Company mailed in connection with the meeting can be found at www.sedar.com.

The Company is investigating strategic alternatives, including the sale of its assets and possible acquisitions, which may not involve a change of business, in order to enhance shareholder value.

The Company intends to complete a private placement of up to 10,000,000 flow-through units at a price of $0.10 per unit. Each unit will consist of one flow-through common share, one common share, and one common share purchase warrant that entitles the holder to purchase one common share of the Company at a price of $0.10 for a period of two years from the date of issuance.

Proceeds of the offering will be used for working capital, acquisitions and incurring Canada exploration expenditures (within the meaning of the Income Tax Act (Canada)).

In addition, the Company is proposing to settle an aggregate of up to $1,100,000 of indebtedness through the issuance of up to 22,000,000 common shares of the Company. The debt settlement will substantially strengthen the Company's balance sheet.

The securities issued pursuant to the private placement and debt settlement are subject to a four-month hold period.

Closing of the private placement and debt settlement, which is currently expected to occur on or about December 31, 2010, is subject to certain customary conditions, including, but not limited to, the receipt by the Company of all necessary approvals and consents, shareholder approval and the approval of the NEX.

Shares Outstanding: 5,615,576

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

Contacts: Blue Vista Technologies Inc. Alex Falconer CFO and Director [phone] [e-mail] Chris Irwin Corporate Secretary and Director [phone] [e-mail]