Shannon International Inc.
OTC Bulletin Board : SHIR

Shannon International Inc.

September 22, 2005 15:19 ET

Shannon Announces Memorandum of Understanding with Canagreen Business Development Inc.

CALGARY, ALBERTA--(CCNMatthews - Sept. 22, 2005) - Shannon International Inc. (OTCBB:SHIR) ("Shannon" or "the Company") is pleased to announce that on September 21, 2005 the Company signed a Memorandum of Understanding ("MOU") with Canagreen Business Development Inc. ("Canagreen") of Vancouver to represent Shannon throughout China.

Canagreen works with investors throughout China who invest in North American equities. Their services will include the translation of Shannon corporate information and dissemination of the same through Canagreen's various web portals and partners for an initial period of one year.

This exciting initiative, combined with the previously announced joint venture opportunities (September 12, 2005), will provide Shannon with excellent exposure to the fast growing Chinese influence.

About Shannon

Shannon strategically grows its business by finding, evaluating, and creating value. The Company trades on the NASD OTC Bulletin Board under the Stock Symbol "SHIR".

In addition to its resource assets, Shannon owns a 15% interest in a seismic database compression software platform developed by Helical Systems Inc., and a 51% interest in Logical Sequence Incorporated ("LSI"), a Canadian developer of web-based dealership management software (LynXphere) for automotive retail dealerships.

FORWARD-LOOKING STATEMENTS

Except for the Historical Information contained herein, the matters set forth in this press release are forward-looking statements within the meaning of the "Safe Harbor" provisions of the Private Securities Litigation Reform Act of 1995. These forward-looking statements are subject to risk and uncertainties that may cause actual results to differ materially. These forward-looking statements speak only as of the date hereof and the Company disclaims any intent or obligation to update the forward-looking statements.

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