NEWS Release

Newly Appointed CFO

Date: July 9, 2004

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

International Wex Technologies (the "Company") is pleased to announce the appointment of Dave Matthews as its new Chief Financial Officer. Bruce Hay will relinquish his role as the Chief Financial Officer and assume the position as Chair of the Audit Committee. Bruce will also remain as a Director of the Company.

Dave Matthews has an extensive background in the life sciences industry. Dave was the Finance Director, CFO and Corporate Secretary of Allelix Biopharmaceuticals Inc. in Toronto (now a subsidiary of NPS Pharmaceuticals of Salt Lake City). Dave was also the CFO at Stressgen Biotechnologies until the year 2000. Dave was directly responsible for raising $150 million in equity for these companies and both of these firms were added to the TSE300 index during his tenure.

Bruce Hay, a Director of the Company since September 2001, has been active in the pharmaceutical industry in various capacities including being Director of QLT Phototherapeutics Inc. from 1984 to 1988, co-founder of ImmGenics Pharmaceuticals Inc. and has served as CFO of ARC Pharmaceuticals Inc. since 2002.

International Wex Technologies Inc., a publicly listed neuro-bioscience company (WXI), is focused on the development and commercialization of innovative drug products, primarily for pain management. The Company's lead compound, Tetrodotoxin, is a sodium channel blocker and is the platform for the Company's development of a portfolio of proprietary products in the field of analgesia, drug addiction withdrawal treatment, and local anaesthesia.

For additional information on our products visit us at http://www.wextech.ca or call Gordon Stanley, Corporate Communications at 604-683-8880, or at 1-800-722-7549.

Per: Donna Shum, Corporate Secretary

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