Redex Inc.

Redex Inc.

January 16, 2008 17:43 ET

Redex Inc.: New Developments Regarding the Sale of Montpellier

MONTREAL, QUEBEC--(Marketwire - Jan. 16, 2008) - Redex Inc. ("Redex" or the "Corporation") (TSX VENTURE:RDX)(FRANKFURT:W1F), updating its latest communications with respect to the sale of its Le Montpellier property, announces that it has not come to terms with respect to the finalisation of the transaction with Timbercreek Investment Inc., thus putting an end to the announced agreement.

In accordance with Management's objective to realize the full potential of its real estate portfolio, Redex announces that it has formally received a promise to purchase for its Le Montpellier property from a new purchaser, for an amount superior to the previous offer. Redex intends to shortly inform its shareholders should it accept such offer.

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.

Contact Information