Redex Inc.

Redex Inc.

September 28, 2007 10:29 ET

Notice to Shareholders: Redex Inc. Accepted an Offer to Sell its Montpellier Property for Twenty Million Dollars ($20,000,000)

MONTREAL, QUEBEC--(Marketwire - Sept. 28, 2007) - Redex (TSX VENTURE: RDX)(FRANKFURT:W1F) is very pleased to announce that it has accepted an offer to sell its Montpellier property for $20,000,000 cash from Timbercreek Investment Inc. The Montpellier property was purchased by Redex in 2005 for $17,000,000. This arm's length transaction will cover its balance of hypothec of the amount of $16,250,000 and represents a potential gross profit of $3,000,000 excluding the intermediary's fees of about $300,000 payable at the closing of the transaction.

The Montpellier represents more than 95% of Redex's assets. Having achieved the necessary liquidity to complete its future projects, Redex will now be able to focus its attention on securing the acquisition of other properties currently targeted for conversion.

Closing of the sale is expected within 60 days, subject to approval by the shareholders and in the TSX Venture Exchange.


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About Redex Inc.

In recent years, Redex had become a leader in real estate recovery and restructuring. Turning its attention to the future, Redex is now committed to becoming the leader in the art of converting residential rental housing into co-ownerships. The common shares of the Company are currently listed on the Toronto Venture Exchange (symbol: RDX) and the Frankfurt Stock Exchange (symbol: W1F).

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release

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