NEWS RELEASE - -------------------------------------------------------------------------------- Fantom Technologies Inc. Announces New Banking Facility TORONTO, March 1, 2001 - Fantom Technologies Inc. (TSE: FTM; NASDAQ: FTMTF) is pleased to announce today that it has concluded its new banking arrangements with The Bank of Nova Scotia, providing for a $30 million demand operating facility. -30- For more information, please contact: Allan Millman Steve Doorey President & CEO Vice President, CFO 416-622-9740 Ext. 232 905-734-7476 Ext. 281