News Release

Non-Brokered Private Placement

Date: Feb 28, 2002

TSX Venture Exchange Trading Symbol: WXI
http://www.wextech.ca
E-mail: wex@wextech.ca

International Wex Technologies Inc. (the "Company") announces the setting of a non-brokered private placement for 600,000 common shares at $1.87 per share with 2-year warrant attached for 600,000 shares exercisable at $2.20 per share in the first year and $2.64 per share in the second year, expiring two years from the closing of the private placement. The proceeds of this private placement will be allocated toward the Research & Development of our products. Some finder's fees would be payable. The terms of this private placement is subject to approval by regulatory bodies.

In the area of neuro-bioscience, the Company is focusing on the fields of pain management, drug addiction treatment and anaesthesia. The Company is developing products that contain a sodium channel blocking compound and derivatives extracted from natural organic substance using its proprietary manufacturing technology.

For additional information on our products, view the Company website at http://www.wextech.ca or call Howard Milne, V.P. Corporate Communications, at 604-683-8880 or 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

The Canadian Venture Stock Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this News Release.