THE ARCTIC GROUP ANNOUNCES ADDITIONAL 5 MILLION DOLLAR DEBT FINANCING FOR ON-GOING ACQUISITION PROGRAM

The Arctic Group Inc. today announced that, in addition to $6 million convertible debenture announced last week, the Company has arranged with RoyNat Inc. to provide a further $5 million through a debenture credit facility.

Funding is scheduled on or about November 30th, 1997.

Arctic Group President and CEO, Robert Nagy stated that, "these recent financings, totaling $11 million, reflect the growing confidence both lenders and investors are showing in the Arctic Group's management and strategic plans."

The Arctic Group Inc. is one of Canada's largest ice companies with manufacturing and distribution centres in all four Western Canadian Provinces.

The Arctic Group Inc. 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.

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, President & CEO.

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

Telephone: (204) 772-2473