PVAXX Ltd. Announces Board and Management Additions to be Approved at Shareholders' Meeting Scheduled for 1st QTR of 2005

HAMILTON, BERMUDA, WEDNESDAY, DECEMBER 1, 2004 - PVAXX Ltd., a Bermuda based commercial materials sales corporation (the "Company"), announced today that the following individuals will assume new and/or parallel roles of management within the Company effective immediately while subject to shareholder approval at the annual shareholders' meeting scheduled for the first quarter of 2005.  Key appointments include, but will not necessarily be limited to:

Mark T. Thatcher, CEO and Director;

Henry  Stevens, COO and Director,

John O'Kelly-Lynch, CFO and Director,

James R. Simmons, General Counsel and Director; and

Omar Shawaf, Supply Procurement Officer and Director

John O'Doherty, Chairman of the Board, commented that, "Mr. Thatcher and Mr. Simmons have been decisively involved with the ongoing operations of the Company for over six years and have excelled at "bridging" the global relationships that are necessary for our Company to operate on a truly multinational platform.  In addition, Omar Shawaf brings a comprehensive and focused approach for procurement of raw material supplies while maintaining a consistent and available supply to our production facilities on a timely basis throughout the world. Henry Stevens, the Company's founder will operate in the role of COO continuing to provide us with the benefit of his vast background in material development and operations, while John O'Kelly-Lynch has been appointed CFO having previously held the title of Finance Director, thus enabling the Company to leverage his depth of knowledge in running world wide operations from Bermuda. "

Bios for these individuals are set forth as follows:

Mark T. Thatcher, CEO and Director--

Mr. Thatcher, Chief Executive Officer of the Company, has served on the Board of Directors since 1998.  He originally joined PVAXX as USA based counsel in 1998 and became Director of International Business Development in 1999.  Prior to joining the Company, Mr. Thatcher served as special consultant to numerous publicly and privately held international companies where he specialized in cross-cultural business transactions, M&A, securities and capital formation planning, product licensing, product area development and joint venture planning.  Mr. Thatcher presently sits on the International Trade Committee, Middle East Committee, International M&A Joint Ventures Committee, International Commercial Transactions Committee and International Energy and National Resources Committee of the American Bar Association.

Mr. Thatcher attended the University of Denver where he earned his Masters in Business Administration and law degrees.  He is presently a member of the State Bar of Colorado; Court of Appeals District of Columbia; Committee Member of the International Business and Securities Sections/Forums, Colorado, Washington, D.C., Member of the International Society of Business Law and Member of the Federal Bar Association.

Henry Stevens, COO and Director--

Mr. Stevens, Chief Operating Officer of the Company began serving as Chief Executive Officer of the PVAXX Group in 1998, following from 10 years managing materials companies.  His experience with materials, particularly in development stage companies, is a valuable tool in PVAXX's development. Mr. Stevens is an advisor to the Trustees of Nidicus Trusts set up to benefit ethical and environmental developments.

John O'Kelly-Lynch, CFO and Director--

Mr. O'Kelly-Lynch, Chief Financial Officer of the Company has served on the Board of Directors since 2003 as Finance Director.  He is a member of Institute of Chartered Accountants in Ireland and Bermuda.  In 1984 he joined a Bermuda based private international shipping and venture capital investment group and in 1990, he formed Atlantic Corporate Management Limited (ACM), a financial and business management company specialising in the international shipping and energy industries. Mr. O'Kelly-Lynch is a board member of the Association of Bermuda International Companies and past Chairman of the Bermuda International Shipping Association.

James R. Simmons, General Counsel and Director--

Mr. Simmons currently acts as Director of Legal Affairs and has served as North American based counsel for the Company since 1998.  Mr. Simmons is also senior partner in the Providence based law firm of Nadeau & Simmons, P.C. that he joined in 1991.  He has specialized in corporate law while acting as general counsel to developing and mature corporations with regard to numerous matters including corporate governance; negotiation and documentation of contracts, commercial transactions including sales, mergers and acquisitions, and licensing related matters.

Mr. Simmons attended The National Law Center at George Washington University where he earned his law degree.  He previously graduated Magna Cum Laude with a degree in Political Economy from The University of Hartford.  He is presently admitted to practice before the Supreme Court, State of Rhode Island and Massachusetts, is a member of the Rhode Island and Massachusetts Bar Associations and sits on the Board of Directors of BioProcess Technologies, Rhode Island.

Omar Shawaf, Supply Procurement Officer and Director--

Mr. Omar Shawaf is the Vice Chairman and board member of Saudi Consulting Services (Saudconsult).  Mr Shawaf oversees the international and regional business development for both Saudconsult and the Shawaf family.  Some of the activities include engineering and project management services, maintenance, power and water projects and crude oil transportation.

Mr. Shawaf holds a Bachelor of Science in International Business from George Washington University.

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.

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