The Company is pleased to announce that Mr.
Pablo Palma of Santiago, Chile has joined the management team of International PBX
Ventures Limited as Vice-President, eVentures. In the spring of 1999 the Company announced
its intention to seek Intemet related projects with a view to diversification. Our focus
has been the fastest growing Internet market in the world, Latin American market. This
region with 500 million inhabitants is receiving top attention from Internet investors and
Chile, a small but very advanced country, is the proven ideal place tbr business
development in Latin America. No deals have been finalized to date but the Company is
still actively seeking projects and reviewing submissions. In his capacity as
vice-president Mr. Palma will head the Company's diversification into the Internet and
Mr. Palma, an electrical engineer from the University of Chile brings to the Company over
thirty years of experience in Computer Science, Internet related technology and software
products and application to both the public and private sectors. During his career Mr.
Palma has held the position of Professor of Computer Science at the University of Chile,
was MIS Director of the Central Bank of Chile and President of the Committee for Bank
Automation in Chile, has been the creator, partner and General Manager of various software
distribution and development companies, was a founding partner and Director of the Chilean
Software Association and first President of the Committee for Exportation of Software
developed in Chile. Currently Mr. Palma owns and manages Hypernet a Microsoft Solution
Provider company and is a partner or associate of a number of Internet and wireless
communications companies working in the eComnierce and mCommerce (mobile and wireless
internet commerce) fields.
The Company is confident that with the addition of Mr. Palma to the management team it
will quickly acquire a top quality project in the forefront of Internet growth.
On behalf of the Board
"Terence Walker, M.Sc, P. Geo."
The Canadian Venture
Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy
of this Release.
INTERNATIONAL PBX VENTURES LTD.
910-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Tel: (604) 681-7748
Fax: (604) 681-0568
Email: [email protected]
Trading Symbol: IVU - Canadian Venture Exchange