Rapid Brands Reports on Operating Expense Reduction

    CALGARY, July 16 /CNW/ - Today, Rapid Brands Inc. ("Rapid Brands," RAP),
is reporting on its Operating Expense Reduction Campaign before its July 16
shareholders meeting held in Calgary, Alberta. Based in Chanhassen, MN, Rapid
Brands is the parent company of Rapid Refill Corp. ("Rapid Refill"), a retail
franchise in the multi-billion dollar ink and toner industry. Rapid Brands is
traded on the TSX Venture Exchange under the stock symbol RAP.
    After initiating its Operating Expense Reduction Campaign on March 1,
2008, Rapid Refill is reporting that the initiative is already yielding
significant monthly savings. On an annualized basis, Rapid Refill's operating
expense run rate has been reduced by approximately $1.7 million.
    "We are pleased to report to our shareholders our initial success in
aggressively working to ensure our operating costs remain in keeping with
industry-recognized best practices," stated Roger E. Block CFE, President of
Rapid Brands. "We are very serious about maximizing our profitability so we
may focus on further growing our franchise network."

    Forward Looking Statements

    By their very nature, forward-looking statements involve inherent risks
and uncertainties, both general and specific, which give rise to the
possibility that predictions, forecasts, projections and other forward-looking
statements will not be achieved. We caution you not to place undue reliance on
these statements as a number of important factors could cause our actual
results to differ materially from those expressed in such forward-looking
statements. These statements are not a guarantee of future performance and are
subject to risks and uncertainties that could cause actual results to differ
materially including management of market, liquidity and funding and
operational risks, the effects of competition in the markets in which we
operate, the timing and technological advancement of new products introduced
by us or by our competitors, timely development of new products and services,
the impact of changes in laws and enforcement thereof, the strength of the US
economy, our ability to maintain operating service levels, our ability to
manage technology costs and other variable operating expenses and other
factors set forth in reports and other documents filed with the relevant
Canadian securities regulatory authorities from time to time including our
quarterly and annual management discussion and analysis and annual information
form. We caution that the foregoing list of factors that may affect future
results is not exhaustive.
    In addition, we have made assumptions in the preparation of this release
including that the operating requirements of our current business will not
materially change necessitating material change to our operating expense
structure. The foregoing assumptions, although considered reasonable by us at
the date of this release, could prove to be inaccurate and consequently our
actual results could differ materially from expectations set out herein. This
assumption covers significant areas, but is not comprehensive in scope. Please
see previously issued documents to provide additional information and details.
    To learn more about becoming a Rapid Refill franchisee, please call
877.880.4465 or visit http://www.rapidrefill.com. To learn more about Rapid
Brands and a more comprehensive reporting of financial data and management's
discussion and analysis, visit http://www.sedar.com.

    Note to Editors: Chanhassen, Minnesota-based Rapid Brands, Inc., through
its wholly owned subsidiary Rapid Refill Corp., is a retail franchise in the
multi-billion dollar ink and toner industry. Overall savings on remanufactured
cartridges can be up to 50 percent below those of OEM (Original Equipment
Manufacturer) cartridges. Rapid Refill stores offer thousands of inkjet and
toner cartridges and other products and services to support the small and
medium size business owner. The shares of Rapid Brands Inc. trade on the TSX
Venture Exchange under the stock symbol RAP. For more information, visit

For further information:

For further information: Roger Block, Chief Executive Officer, Rapid
Refill, Tel: (877) 880-4465, Email: rblock@rapidbrandsinc.com.

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RAP Acquisition Corp.

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