Conversion of Vitality's 32,927 Class "A" Preference Shares, Series 5



    Trading Symbol: VPI

    VANCOUVER, Oct. 18 /CNW/ - Vitality Products Inc. (the "Company") has
issued a total of 1,202,885 common shares in the capital of the Company
pursuant to the conversion of 32,927 Class "A" Preference Shares, Series 5 at
a deemed value of $10.00 per share in the capital of the Company, plus all
unpaid dividends accrued thereon to the date of conversion, at the conversion
price of $0.3388 per common share. The Class "A" Preference Shares, Series 5
(the "Preference Shares"), with a par value of $10 each have a 6% cumulative
dividend payable annually that commenced October 31, 2004. The Preference
Shares and the cumulative dividends are convertible into common shares of the
Company on or before October 31, 2008. The conversion price for the first two
years was $0.28 per common share and the conversion price in each subsequent
year is 10% higher than the conversion price in the preceding year.
    Consolidated Firstfund Capital Corp. ("Firstfund") has received
570,299 common shares pursuant to the conversion of its 15,611 Preference
Shares, plus all unpaid dividends accrued thereon to the date of conversion.
Costar Marketing Corp., a wholly owned subsidiary of Firstfund, has received
70,872 common shares pursuant to the conversion of its 1,940 Preference
Shares, plus all unpaid dividends accrued thereon to the date of conversion.
William N. Grant, a director and officer of the Company, owns 72.2% of
Firstfund.
    Upon the completion of the conversion, the Company has 19,887,285 common
shares outstanding and no Class "A" Preference shares, Series 5 outstanding.

    On behalf of the Board of
    VITALITY PRODUCTS INC.

    "W. Douglas Grant" (signed)
    --------------------------------------
    W. Douglas Grant, Vice President & CFO


    The TSX Venture Exchange has not reviewed and does not accept
    responsibility for the adequacy or accuracy of this release.

    %SEDAR: 00005856E




For further information:

For further information: Douglas Grant, CFO at (604) 683-6611 or
info@vitality.ca


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