(EMAILWIRE.COM, June 20, 2002 ) Vancouver, BC - VentureQuest Group, Inc., a U.S. corporation, [VQGI on "Pink Sheets"], ("the Company or VentureQuest") announced yesterday that its the current phase of development at the CyberDome Facility, the Ottawa based Family Entertainment Center "FEC" acquired by the Company for this project has now been completed. As a result of the successful conclusion of this development the company has
agreed to re-deploy the resources employed in this development program into revenue generating attractions at the facility, provided it was able to renegotiate the terms of the lease it assumed on June 1st 2002.

Under the original terms of the lease, which expires in 2007, the company would be required to make minimum annual payments to the Landlord of approximately $180,000 (CDN$270,000) plus 6% of all revenues over $1,500, 000 and 10% of all revenues over $2,500,000. Under the new terms of the lease the company was able to reduce its minimum rental payments by approximately 50% to $90,000 (CDN$135,000) plus 10% of all revenues in excess of $1,620,000. In addition too the reduction in rent the company
will now be able to expand its restaurant beyond the 1,500 limit contained in the original lease. There are no other material changes to the lease agreement, which the company has the option to renew for three additional 5-year terms after the expiry of the original term in 2007.

"We are delighted with the revised terms of the lease agreement," stated William Baker the President and CFO of VentureQuest. "We now have a true working partnership with our Landlord which reduces our fixed overheads while increasing our revenue potential." he added

VentureQuest is in the business of acquiring and consolidating emerging or underachieving companies or opportunities that provide recurring revenue.


Further Information:
Eric Hutchingame, 604-990-9889
ehutchingame@vqgi.com
or visit www.vqgi.com


The above statements in regard to VentureQuest Group, Inc. which are not purely historical are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, including VentureTech, Inc. and VentureQuest Group Inc.'s beliefs, expectations, hopes or intentions regarding the future. All forward-looking statements are made as of the date hereof and are based on information available to the
parties as of such date. It is important to note that actual outcomes and actual results could differ materially from those in such forward-looking statements. Factors that could cause actual results to differ materially include risks and uncertainties such as technological, legislative, corporate, regulatory and marketplace changes.

Contact Information:
VentureQuest Group, Inc.
Joseph Nchor
Tel:
Email us


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