ARCTIC GROUP CHANGES YEAR END

WEDNESDAY, December 30, 1998 - Winnipeg, Manitoba. The Arctic Group Inc. announced today a change in its financial year end from April 30th to December 31st. This change will be effective with the period ending December 31, 1998.

“This change was designed to provide more meaningful information for investors by following the calendar year end which has been adopted in the industry for financial reporting,” said Robert Nagy, The Arctic Group Chairman and CEO

The Arctic Group is Canada’s largest ice company and is committed to building an internationally recognized 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.