VSF Vita Food Products,

Dutton Associates continues its coverage of Vita Food Products (AMEX:VSF) maintaining a Speculative Buy rating and raising its target price to $3.60. The 10-page report by Dutton senior analyst Gerald F. LaKarnafeaux, CFA, is available at www.jmdutton.com as well as from First Call, Bloomberg, Zacks, Reuters, and other leading financial portals. The Company has been undergoing a transition in management since June of 2005, when CFO Cliff Bolen was promoted to Chief Operating Officer. The recent changes call for the establishment of an Office of Chief Executive. Revenues in 2005 continued the under-performance reported over the past two years. Revenues in 2005 were down by 3.9% to $46.9 million, while revenues in the fourth quarter were higher by approximately 2%. The Company has reported strong qualitative and quantitative fundamentals over the past six months. The stock has responded by appreciating from $2.40 per share to the current price of $3.35 per share, which is 6% above our last target price of $3.15 per share. We believe the fundamentals justify an increase in the 12-month target price to $3.60 per share. In 12 months, we believe the Company should report earnings per share of $0.21, with the prospects of higher earnings in 2007. The price earnings ratio on the new target price is 17 times, which is reasonable for a food processing stock considering the anticipated strong relative earnings performance. We admonish the reader that the sharp appreciation in recent weeks could result in short term volatility until the first quarter is reported in the next six weeks. However, in spite of the potential profit-taking following the run up in the stock, we are maintaining our Speculative Buy rating. About Dutton Associates Dutton Associates is one of the largest independent investment research firms in the U.S. Its 29 senior analysts are primarily CFAs, and have expertise in many industries. Dutton Associates provides continuing analyst coverage of over 130 enrolled companies, and its research, estimates, and ratings are carried in all the major databases serving institutions and online investors. The cost of enrollment in our one-year continuing research program is US $35,000 prepaid for 4 Research Reports, typically published quarterly, and requisite Research Notes. Dutton Associates received $71,000 from the Company for 12 Research Reports with coverage commencing on 5/07/2002. The Firm does not accept any equity compensation. Our principals and analysts are prohibited from owning or trading in securities of covered companies. The views expressed in this research report accurately reflect the analyst's personal views about the subject securities or issuer. Neither the analyst's compensation nor the compensation received by us is in any way related to the specific ratings or views contained in this research report or note. Please read full disclosures and analyst background at www.jmdutton.com before investing.