THE NEWSROOM

Innovation Fund LLC
Metropolitan Tower
146 West 57th Street, suite 33D
New York, NY 10019

Contact: Barbara Carver
Phone: 516-921-3100

For Immediate Release

INNOVATION FUND ANNOUNCES IT CAN
TURN WATER INTO WINE!

NEW YORK, NY (May 10, 2006) - Donald Spector, Chairman of Innovation Fund LLC (www.innfund.com), announced today that it has patented and developed technologies that will allow consumers to screw one of its Flavor Tops caps onto any bottle of water and turn it into a vast variety of beverages! A consumer can take their favorite brand of plain bottled water, like Poland Spring (from Nestlé), and with a Flavor Tops cap turn it into a power drink, a soft drink, tea, or even an alcoholic beverage! These technologies can be used with concentrated powders, like Crystal Light, a brand of Kraft, liquids, or contain multiple product combinations. The caps can also be used for maintaining freshness of vitamins, additives or medications.

Donald Spector, who is also the Chairman of New York College of Health Professions (www.nycollege.edu), a world leader in Holistic Health and Education offering both undergraduate and graduate level degrees, says, “While the traditional distribution route might at first appear to be Coca Cola, PepsiCo or some other major bottlers, this product can also be distributed or licensed to food companies or even companies like Nike. Non-beverage companies have traditionally had entry problems breaking into the beverage industry. Government applications also offer great opportunities such in schools, where new laws banning high calorie drinks are going into place, as well as in the military.”

While sales of bottled water are climbing in the United States, sales in underdeveloped countries have seen even more substantial growth since their water quality is poorer. The proprietary Flavor Tops cap retrofits onto existing bottles of water and instantly converts the water into a wide variety of beverages by releasing either powders or liquids at the time the consumer screws on the cap and is ready to drink it.

The military, as an example, can have one product (bottled water) and yet supply its troops with a variety of drinks by offering many different caps. These choices can also contain nutrient value, power additives or medicines which remain fresh until the time of consumption. In areas of limited space, a ship or supply area can carry just bottled water and yet give troops a choice of hundreds of their favorite drinks!

Donald Spector, Chairman of Innovation Fund LLC, believes Flavor Tops will open the market for many new exotic flavors, specialized holistic products that often lose freshness and to brand name companies that currently can't make it into the crowded and limited space available for cold beverages in convenience stores and supermarkets. “Every convenience store carries cold water. Now, with that single product, our non-refrigerated caps can offer the consumer a world of choices. Well known sports names, and even teams like the New York Yankees or companies like Reebok that are not presently players in the beverage business can become dominant names in the power drink business, without having to join the closed beverage industry club,” says Spector.

Innovation Fund LLC has vast patent portfolios and licenses and ventures with many Fortune 500 companies, as well as with mid-sized companies. This product line has been licensed to a multi billion-dollar company in the flavor business to service companies in mass markets.

The product line will be ready for market introduction in early 2007. Innovation Fund LLC believes this technology can shake up the giants in the industry and allow many other companies with brand names to enter a market, which now has increasing problems and costs associated with transportation.

FOR MORE INFORMATION, PLEASE CONTACT: BARBARA CARVER at (516) 921-3100, or via email at bcarver@innfund.com.