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PVAXX Limited Engages Merrill Lynch As Investment Banker And Financial Advisor

27 27 2004

Hamilton, Bermuda: 27 September 2004 - PVAXX Ltd., a Bermuda Based commercial Materials sales corporation (the "Company"), announced today that it has engaged Merrill Lynch to serve as investment advisor and capital formation specialist. John O'Kelly Lynch, Finance Director for the Company advised that "Our Board of Directors was pleased to present our business model to Merrill Lynch and ultimately decided that their global presence is best suited to advise our Company as we anticipate a substantial roll-out of our pallet manufacturing facilities throughout the world."

John O'Doherty, Chairman of the Company, further stated that "Clifford Chance (US) LLP, recently appointed by our company to provide legal services covering an american depository program, facilitated the meeting with Merrill Lynch to ensure that we can optimally employ a capital formation plan that will accommodate our comprehensive production facility roll-out. These pre-imminent leaders in their respective industries will also assist with financial valuation and recruitment of additional board and executive management members to ensure that our company has the strength and depth of experience required to roll-out our business worldwide."

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.