PVAXX Limited Moves Forward With Initial Stages Of Listing Shares As An American Depository Receipt

Following recent meetings in New York, the Company has formally retained Clifford Chance (US) LP to serve as counsel with regard to the implementation of the ADR program. In addition, the Company has completed a number of introductory meetings with New York based investment banks and firms both in regards to a U.S.-based ADR campaign as well as to establish strategic relationships.

John O'Doherty, Chairman of the Board of Directors of the Company stated that, "Management has concluded an informative and productive week as we move towards an ADR listing in the United States. We are very pleased to be working with Clifford Chance, a leader in their industry. We also used the week to meet with a number of U.S. investment banks and capital formation firms to discuss our potential ADR program and overall business strategy. We look forward to further cultivating these relationships as we continue to move forward."

Although there can be no assurances with respect to timing, the Company now plans to proceed towards the completion of the ADR Program as soon as possible, with the expectation that its shares will eventually be listed on the NASDAQ stock exchange.

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

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