News Release

Private Placement

Date: 2000/03/03

International Wex Technologies Inc. (the "company") is pleased to announce the closing of a non-brokered private placement.

No. of shares: 1,150,000 common shares
Price: $2.38 per share
Warrants: 1,150,000 shares exercisable at $2.80 during the first year and $3.36 per share during the second year expiring two years from the closing of the private placement.

Placees:
- Cambridge Pacific Fund 60,000 common shares
- Cambridge Growth Fund 167,983 common shares
- Cambridge Global Fund 45,000 common shares
- Cambridge China Fund 60,000 common shares
- Cambridge Cda Pension Fund 50,000 common shares
- Mr. A.J. Miller 300,000 common shares
- Mr. Lee R. Kunz, Sr. 100,000 common shares
- Mr. Michael C. Miller 45,000 common shares
- Ms. Loyola E. Miller 55,000 common shares
- Mr. Bernard Perlman 42,017 common shares
- Ms. Shehu Shean Lee 75,000 common shares
- Mr. Yeo Lik Kim 80,000 common shares
- Mr. Wong Cheung Wa, Leo 30,000 common shares
- Mr. Tong Yik Pang 20,000 common shares
- Mr. Wang He Chi 20,000 common shares

A Finders Fee will be payable in the amount of 88,124 in the form of listed shares restricted until February 25, 2001, subject to regulatory approval.

The proceeds of this private placement will be allocated towards the requirements and testing of Tetrodin(HT) for the filing for IND (Investigational New Drug) with the USFDA; and general working capital of the company.

IWT has developed a patented new product named Tetrodin(HT). Tetrodin(HT) is a non-narcotic pharmaceutical that has proven to be a safe and effective treatment for all opiate (heroin, opium, morphine, methadone, etc.) addictions. Tetrodin(HT) functions very well in both primary withdrawal treatment and abstinence maintenance (longer term use) of drug addiction.

For additional information on Tetrodin(HT), view the IWT website at
http://www.wextech.ca or call Howard Milne , V. P. Shareholder
Communications, at 604-683-8880 or 1-800-722-7549.

Per: Donna Shum, Corporate Secretary