egX Group Inc.

egX Group Inc.

April 28, 2008 09:00 ET

egX Closes First Tranche of Financing

VANCOUVER, BRITISH COLUMBIA--(Marketwire - April 28, 2008) - egX Group (TSX VENTURE:GFG) today announced that it has closed on the first tranche of its financing announced February 27, 2008. The first tranche is comprised of 1,873,588 units of a non-brokered private placement of the Company at a price of $0.25 per unit for gross proceeds of $468,397. Each unit is comprised of one common share and one non-transferable warrant. Each warrant entitles the warrant holder to acquire one additional common share, exercisable at a price of $0.40 per share in year one and $0.50 per share in year two from the date of closing.

The proceeds of the private placement will be used to advance the Company's business plan including the continuing deployment of egX Canada and ongoing operations. The common shares forming part of the units, as well as any common shares issued upon exercise of the warrants, are subject to a four month hold period, which will expire at midnight on August 22, 2008. The Company paid an aggregate of $6,000 cash and agents' options to acquire an aggregate of 16,000 units, exercisable at a price of $.25 per unit until April 22, 2009 as a finder's fee on the private placement.

About egX Group

egX Group is developing the egX, a global securities marketplace designed for the listing and trading of real estate and related financial products. The Company is preparing to launch its first marketplace in Canada under egX Canada, a wholly-owned subsidiary of egX Group. To achieve global presence and to penetrate international markets under the egX brand, egX Group is partnering with interested parties established in the key international financial centers in Europe, the Middle East, the Asia-Pacific region, and the Americas. Additional information, including the Company's business plan is made available at

The TSX Venture Exchange has neither approved nor disapproved the information contained herein.

Contact Information