Redex Inc.
TSX VENTURE : RDX

Redex Inc.

October 27, 2006 19:18 ET

Sale of Redex Inc.'s Shareholding in Villa St-Joseph, Located at 1170, Beauregard Street, Ste-Hyacinthe

MONTREAL, QUEBEC--(CCNMatthews - Oct. 27, 2006) - Redex Inc. (TSX VENTURE:RDX) sold its shareholding it held in 9111-7945 Quebec Inc. to 9170-8024 Quebec Inc., composed of 50 common "A" shares and one category "H" share of 9111-7945 Quebec Inc. (hereinafter, the "Shares"), which represents respectively 50% and 100% of their category. 9111-7945 Quebec Inc. is the owner of the residential building located at 1170, Beauregard Street, in the city of Ste-Hyacinthe. The Shares were sold for the total price of $250,000.00 of which $200,000.00 was payable cash and $50,000.00 payable no later than October 12, 2007. Redex Inc. acquired the Shares for the price of $51 on November 26, 2004. The sale is an arm's length transaction and without intermediary.

About Redex Inc.

In recent years, the Corporation has become a leader in real estate recovery. Turning its attention to the future, the Corporation is working to become the leader in the conversion of residential rental housing into co-ownerships.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

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