THE ARCTIC GROUP COMPLETES ACQUISITION OF ONTARIO-BASED HIGHLAND ICE LIMITED

Further to its April 17, 1998 news release, The Arctic Group Inc. announced it has completed the acquisition of all of the issued and outstanding shares of Highland Ice Limited, an Ontario-based ice producer and distributor.

Located in Fergus, Ontario, the acquisition of Highland ice has been completed as an all cash transaction, effective June 23, 1998.

As Canada's largest ice company, 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 in North America.

For further information, call The Arctic Group Inc. TOLL FREE at 1-888-573-9237 or visit The Arctic Group's Web Site at - http://www.arcticgroup.com.

(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.