Synex International acquires assets of Wolverine Power Corp.

VANCOUVER, July 18, 2003 — Synex International Inc announced that on July 3 and July 7, its subsidiary, Synex Energy Resources Ltd, acquired the real estate assets of Wolverine Power Corporation comprising four hydroelectric facilities located in Michigan under a foreclosure procedure.

These assets are now held by Synex Michigan, LLC, a recently incorporated subsidiary of Synex Energy, which is proceeding to negotiate with Wolverine Power Corporation to effect the transfer of the operating business including the purchase of the remaining assets of Wolverine Power Corporation.

Synex International Inc is a public company listed on the Toronto Stock Exchange with businesses that cover the development, ownership and operation of electrical generation facilities and the provision of consulting engineering services in water resources, particularly hydroelectric facilities.

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