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PVAXX Industries Will Breakground On Flagship Production Facility

18 18 2004

HAMILTON, BERMUDA, FRIDAY, JUNE 18, 2004 - PVAXX Ltd., a Bermuda based commercial materials sales corporation (the "Company"), announced today that our Kingdom of Bahrain based subsidiary, PVAXX Industries W.L.L. ("Industries"), will "break ground" on June 30 at the port facility located within the area of Hidd, Bahrain. Michael Solomon, Project Director, has advised that "We are extremely pleased to commence the construction of our initial production facility later this month and to also announce that our Company has entered into an agreement with Saudi Consulting Services - Saudconsult ("SC") whereby SC will provide up to five (5) Lump Sum Turnkey ("LSTK") production facilities in accordance with our planned roll-out".

SC will undertake all of the tasks necessary to design and build the manufacturing facilities for the Company based upon expertise in Process Engineering and Plant Construction. Faisal Shawaf, Vice President of Saudi Consulting Services stated "The PVAXX project will be exciting for SC. We have an opportunity to complete several LSTK facilities abroad including North America and China, while assisting the Company with meeting their production plans."

This press release may include forward-looking statements about the Company's revenues and earnings and future plans and objectives. Any such statements are subject to risks and uncertainties that could cause the actual results to vary materially. These risks are discussed in the Company's Bermuda Stock Exchange informational prospectus that may be found posted on the Company's website at www.pvaxx.com.

For more information about PVAXX LTD., headquartered in Hamilton, Bermuda, please see:

www.pvaxx.com.

For international investor relations' matters, please contact:

investorrelations@pvaxx.com