THE ARCTIC GROUP INC ACQUIRES THE ICE PEDLAR IN EDMONTON, ALBERTA

The Arctic Group Inc. announced today the Company has signed a Letter of Intent to acquire 100 percent of the issued and outstanding shares of Martin Dorfman Holdings Ltd. and 373575 Alberta Ltd. (which own 100 percent of M.&R. Dorfman Enterprises Ltd. doing business as The Ice Pedlar and Happy Party Ice), the dominant ice group in northern Alberta.

This latest acquisition will be completed through a combination of cash and shares of The Arctic Group Inc. The transaction is effective April 30, 1998 with a scheduled close by approximately May 15, 1998, subject to final due diligence and regulatory approvals.

"With the addition of the area served by this major player based in Edmonton, it can be truly said that The Arctic Group is Canada's national ice company," said Robert Nagy, The Arctic Group Chairman and CEO.

The Arctic Group Inc. is Canada's largest ice company and is committed to building an internationally recognized ice company by focusing on an aggressive strategy of growth through acquisition and consolidation of the ice industry in North America.

For further information, call The Arctic Group Inc. TOLL FREE at 1-888-573-9237.

(Signed)
On behalf of the Management and the Board of Directors of The Arctic Group Inc.,
Robert Nagy, Chairman & CEO.

The Alberta Stock Exchange has not reviewed and does not approve or disapprove of the adequacy or accuracy of this release.