Redex Inc.

Redex Inc.

June 07, 2007 17:30 ET

Redex Inc. Concludes Debt Refinancing of $16.25M

MONTREAL, QUEBEC--(Marketwire - June 7, 2007) - Redex inc. ("Redex" or the "Corporation") (TSX VENTURE:RDX)(FRANKFURT:W1F), a leader in the conversion of rental properties to co-ownerships, is pleased to announce it has completed a non-brokered debt refinancing loan of $16,250,000 for its Montpellier property, with Placements Fraine Inc. and the Bank of Montreal.

The new financing replaces the 1st and 2nd mortgages that had matured as well as a promissory note related to the property and significantly reduces the Corporation's cost of funds.

"This refinancing not only decreases our interest costs by more than $250,000 per year, it also brings Redex closer to its ultimate goal of notarizing the sales of our Montpellier units."

- Michel Piette, President & CEO

Redex Inc. holds a 100% interest in "Le Montpellier" a 191 unit residential rental complex in St-Laurent, Quebec. The property is evaluated by two independent, professional appraisal firms between $30M-$32M as an undivided co-ownership.

REDEX...real estate at your service!

About Redex Inc.

In prior years, Redex was a leader in real estate recovery and restructuring. Turning its attention to the future, Redex is now becoming the leader in the art of converting residential rental housing into co-ownerships. The common shares of the Corporation 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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