PVAXX Limited Announces Results Of June 2 AGM And Intent To List On London AIM & Dubai DIFX Stock Exchanges

Hamilton, Bermuda: June 6, 2006 -- PVAXX LIMITED, (PVAXX.BH) a Bermuda based industrial materials corporation (the "Company" and/or "PVAXX"), announced today the results of its Annual General Meeting ("AGM") held this past Friday. John O'Doherty, Chairman of the Company, reported that the following resolutions passed with one hundred percent (100%) affirmation:

€¢ The Company's shareholders have unanimously elected seven (7) directors to hold office until the next Annual Meeting of shareholders and until their respective successors have been elected or appointed;

€¢ The Company's shareholders have unanimously approved the appointment of PKF

International ("PKF") as our Independent Auditors for the term described in the Proxy

Statement;

€¢ The Company's shareholders have unanimously approved to amend the name of the

Company to PVAXX Limited from PVAXX Ltd.;

€¢ The Company's shareholders have unanimously approved, pursuant to Bye-Law 154, various changes in the Company's Bye-Laws which have been previously voted upon and approved by the Board of Directors; and

€¢ The Company's shareholders have unanimously approved the ratification and confirmation of acts of the Board of Directors.

Henry Stevens, Founder of PVAXX stated that "After careful consideration, consultation and planning with our investment advisors and strategic partners, the Board of Directors has decided to pursue a dual listing on the London AIM and Dubai DIFX Stock Exchanges in order to access more ascertainable trading markets and attempt to increase shareholder liquidity. The timing of this listing will be at such time as is correct for the best long term strategic aims of the Company.

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.

NOT FOR DISTRIBUTION IN THE UNITED STATES OF AMERICA, AUSTRALIA, CANADA OR JAPAN

This announcement is not an offer of securities for sale in the United States, Australia, Canada, Japan or in any other jurisdiction.

The securities of PVAXX (the "Issuer") may not be offered or sold in the United States unless they are registered or exempt from registration. Any public offering of securities to be made in the United States would be made by means of a prospectus that may be obtained from the Issuer and that would contain detailed information about the Issuer and management, as well as financial statements. The Issuer does not intend to make a public offer of securities in the United States.

Any failure to comply with these restrictions may constitute a violation of U.S., Australian, Canadian or Japanese securities laws. Distribution of this release and of any information contained in it in other jurisdictions may be restricted by law, and persons into whose possession this information comes should inform themselves about, and observe, any such restrictions.

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

www.pvaxx.com.

For investor relations' matters, please contact:

investorrelations@pvaxx.com or

Financial Dynamics

Laila Danesh

Tel: +973 17 537072

Fax: +973 17 534620