THE ARCTIC GROUP INC. COMPLETES ICE PEDLAR ACQUISITION AND SIGNS AGREEMENT TO ACQUIRE HAMILTON, ONTARIO-BASED MORRISON ICE

Further to its March 12, 1998 news release, The Arctic Group Inc. announced it has completed the acquisition of all issued and outstanding shares of Martin Dorfman Holdings Ltd. and 373575 Alberta Ltd. (which owns 100 percent of M&R Dorfman Enterprises Ltd., doing business as The Ice Pedlar and Happy Party Ice). The Ice Pedlar is the largest producer and distributor of packaged ice in northern Alberta, Canada.

The Arctic Group Inc. also announced today the Company has signed a Letter of Intent to acquire 100 percent of the common shares of Morrison Ice Limited of Hamilton, Ontario, Canada. Morrison Ice
Limited serves the Burlington, Hamilton and Niagara Peninsula areas of Ontario.

The acquisition of Morrison Ice Limited will be completed through a combination of cash, debt and shares. Subject to final due diligence, financing, Board and regulatory approvals, the transaction is scheduled to close in 90 days. Senior management at Morrison will be retained following the acquisition. The acquisition of Morrison Ice further enhances The Arctic Group's ability to service accounts on a national basis.

The Company also announced today that the share purchase of Valley Ice Co., as announced March 10, 1998, will not proceed.

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.