THE ARCTIC GROUP INC - LAKEVIEW ICE ACQUISITION IN TEXAS COMPLETED ON TARGET

Further to the news release of February 5, 1998, The Arctic Group Inc. announced today that it has completed the transaction to acquire the assets and operations of Texas-based ice producer and distributor, Lakeview Ice Inc., effective March 16, 1998.

Based in Comanche, southwest of Dallas, Texas, Lakeview Ice Inc. services an area adjoining that of Host Ice, a recently acquired company operating throughout West Texas.

The now completed acquisition of Lakeview Ice further strengthens The Arctic Group's position in the packaged ice industry in Texas and its surrounding regions.

The Arctic Group Inc. is now 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.