Redex Inc.

Redex Inc.

January 23, 2008 18:08 ET

Redex Inc.: Acceptance of a Purchase Offer of $20,250,000 for Le Montpellier

MONTREAL, QUEBEC--(Marketwire - Jan. 23, 2008) - Redex Inc. ("Redex" or the "Corporation") (TSX VENTURE:RDX)(FWB:W1F), announced that, subsequent to the reception and disclosure of new promises to purchase for its Le Montpellier property, that it was considering selling Le Montpellier through an "open bid" process.

Following a market study and reflection of the Corporation's management, it was resolved to continue the process in accordance with the standard procedures and as such, management has accepted Mach Group Inc's offer for the sum of $20,250,000.

"The value of our Le Montpellier property is recognized at its fair value and the acceptance of this new offer to purchase rightly demonstrates our sales strategy." said Guy Descoteaux, Chief Financial Officer.

"Redex aims to meet its objectives and the sale of Le Montpellier will surely increase the shareholders' value" added Mr. Michel Piette, President

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 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.

Contact Information