MagIndustries Corp.

MagIndustries Corp.

February 04, 2005 09:24 ET

TSX Venture Exchange Approve Name Change to MagIndustries Corp.


NEWS RELEASE TRANSMITTED BY CCNMatthews

FOR: MAGINDUSTRIES CORP.

TSX VENTURE SYMBOL: MAA.U

FEBRUARY 4, 2005 - 09:24 ET

TSX Venture Exchange Approve Name Change to
MagIndustries Corp.

WALLACE, NOVA SCOTIA--(CCNMatthews - Feb. 4, 2005) - MagIndustries
Corp., formerly Magnesium Alloy Corporation (TSX VENTURE:MAA.U)
("MagIndustries" or the "Company") is pleased to announce that the TSX
Venture Exchange has given final approval to the change of name of the
Company to MagIndustries Corp. The Company's trading symbol remains the
same, MAA.U, however the new Cusip number is 55917T 102. There has been
no consolidation of capital. Effective at the opening of February 4th,
2005, the shares of MagIndustries will commence trading on the TSX
Venture Exchange.

About MagIndustries Corp.

In recognition of the multiple businesses and products with which the
Company is now involved, the shareholders of the Company have approved
the change of name of Magnesium Alloy Corporation to "MagIndustries
Corp." on January 27, 2005. Please see our press release of January 28,
2005 for further details

Due to rapidly growing demand in the global automotive industry for
competitively priced, high quality magnesium alloys, MagIndustries is
accelerating the development of its 100% owned magnesium and potash salt
deposits at Pointe-Noire, Republic of Congo. The development timetable
for the Kouilou Magnesium Project is now being finalized following the
Company's recently announced access to low-cost hydro-electric energy
and a long-term purchase agreement for all of its planned potash
production.

MagIndustries Corp. is a Canadian public company, whose common shares
are listed on the TSX Venture Exchange, and traded in U.S. currency
under the symbol "MAA.U". MagIndustries has 67,902,942 common shares
outstanding on an undiluted basis. More information on the Company and
its business units is available on its recently updated web site,
www.magindustries.com.

Except for historical information, this press release contains
forward-looking statements, which reflect the Company's current
expectation regarding future events. These forward-looking statements
involve risks and uncertainties, which may cause actual results to
differ materially from those statements. Those risks and uncertainties
include, but are not limited to, changing market conditions, and other
risks detailed from time-to-time in the Company's ongoing filings. We
undertake no obligation to publicly update or revise any forward-looking
statements, whether as a result of new information, future events or
otherwise. In light of these risks, uncertainties and assumptions, the
forward-looking events in this press release might not occur.

New Cusip:55917T 02

-30-

Contact Information

  • FOR FURTHER INFORMATION PLEASE CONTACT:
    Magnesium Alloy Corp. carrying on business as MagIndustries
    William Burton
    President and CEO
    +1 (902) 257-1171
    www.magindustries.com
    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.