Company Update

(Vancouver) –International PBX Ventures Ltd. (TSX.V - PBX) wishes to provide an update on the affairs of the company.

In light of the current market conditions the company is reducing expenditures to conserve cash at the same time continuing to look for opportunities to effectively move our projects forward. The company is debt free and has over $2 million in the treasury, sufficient to remain operational for several years. The company remains strong and will be well positioned to aggressively move forward with a market turn.

Investors are invited to visit the company website at www.internationalpbx.com where a “President’s Letter to the Shareholders“ is available for viewing providing further information on the company’s current status and strategy for future growth.

About PBX
International PBX Ventures is a Canadian junior mining and exploration company focused on acquisition and development of molybdenum, copper and gold properties in Chile. PBX's shares trade on the Toronto Stock Exchange under the symbol PBX.

ON BEHALF OF THE BOARD OF DIRECTORS OF
INTERNATIONAL PBX VENTURES LTD.

                                                                       
George Sookochoff , President & CEO

Office:         604 681 7748
Toll Free: 1 877 681 1154

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The company relies on “forward- looking” statement litigation protection.

©2008 International PBX Ventures Ltd.