Bermuda Stock Exchange

BSX Shorts April 2008 Edition

PVAXX Update Regarding Resignation of Directors

Hamilton, Bermuda, April 29, 2008 – The Non Executive Chairman of the Company, Mr. Douglas Hogg who was appointed in 2007 to facilitate the listing on AIM has resigned from the Board as the Company is no longer proceeding with the listing.

Mr. John O’Kelly Lynch who has been a Director and CFO of the Company since 2003 has resigned to pursue his other business interests.

The role of Chairman and CEO has been combined and we will not be seeking a Non-

Executive Chairman at this time. We are currently recruiting a new Finance Director and will fill this vacancy as soon as a suitable candidate is secured.

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