Redex Inc.

Redex Inc.

April 24, 2008 15:19 ET

Redex Announces the Closing of the Saint-Jerome Property Acquisition

MONTREAL, QUEBEC--(Marketwire - April 24, 2008) - Redex Inc. ("Redex" or the "Corporation") (TSX VENTURE:RDX)(FRANKFURT:W1F), announces the successful closing, on April 23rd, through a Redex subsidiary and in partnership with Placements Fraine Inc., of the previously announced 40-unit property located in the city of Saint-Jerome. The total value of this arm's length transaction, amounting to $3,700,000 CDN, includes an assumption of debt of approximately $2,300,000 CDN. The payment in cash of a Finder's fee of the amount of $75,000 CDN is due for this transaction.

"This acquisition marks the beginning of Management's reorientation towards "divided" conversion projects and profits", said Redex President, Michel Piette.

REDEX... Real estate at your service!

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 does not accept responsibility for the adequacy or accuracy of this release.

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