MTY Food Group Inc.: TCBY Acquisition

MONTREAL--()--May 3, 2005--MTY Food Group Inc. (TSX VENTURE:MTY) Further to the Company's news release of even date regarding the acquisition of all assets and undertaking for the franchising rights in Canada to "The Country's Best Yogurt"(TM) ("TCBY"), the Company reports the purchase price is $1.5 million. Of the 93 existing TCBY outlets in operation for the retail sale of frozen yogurt and other food and beverage items, 78% are located in cinemas and 22% are either in shopping malls or at outside street locations.

System wide retail sales of TCBY for the 2004 calendar year totalled $8.8 million, and rebates and royalties for the same period were $585,000.

The closing of the acquisition is subject to the completion of certain conditions, a full due diligence review, and the acceptance of the TSX Venture Exchange. Closing of the acquisition is scheduled for August 1, 2005. The proposed acquisition does not represent a reverse take-over or change in business of the Company.

This acquisition will complement and expand Matoyee's existing quick service franchise operations, and bring Matoyee's business to over 525 outlets in operation.

On Behalf of the Board of Directors of

MTY Food Group Inc.

Stanley Ma, Chairman, President and CEO

This news release was prepared by management who takes full responsibility for its contents. The TSX Venture Exchange neither approves nor disapproves the contents of this news release.

Contacts

MTY Food Group Inc.
Jean-Francois Dube
Investor relations
(450) 226-8475
jfcinc@cgocable.ca
www.mtygroup.com

Contacts

MTY Food Group Inc.
Jean-Francois Dube
Investor relations
(450) 226-8475
jfcinc@cgocable.ca
www.mtygroup.com