Synex International Inc. Project Update - Cypress Creek Hydro Project



    TSE : SXI

    VANCOUVER, July 21 /CNW/ - Synex Energy Resources Ltd. ("Synex"), a
wholly owned subsidiary of Synex International Inc., and the Government of
Canada have entered into a Contribution Agreement under the ecoENERGY for
Renewable Power program for the Cypress Creek Hydro Project (the "Cypress
Plant"). The program offers a financial incentive of 1 cent per kilowatt hour
of electricity produced from a low impact renewable energy source over the
period of ten years from the date of commissioning. The payments under the
Contribution Agreement are subject to certain conditions being met at the time
of commencement and during generation, some of which have not yet been
satisfied.
    The 2.8MW Cypress Plant is located on Vancouver Island near Gold River,
British Columbia and is more than 75% constructed. The plant is scheduled to
be commissioned in late summer 2008, subject to available water and a power
purchase agreement. Synex made an application for an Electricity Purchase
Agreement (an "EPA") under the BC Hydro Standing Offer Program on April 29,
2008. BC Hydro has approved the Cypress Plant for an EPA subject to an updated
electrical interconnection study and other provisions. BC Hydro is currently
completing the electrical interconnection study.

    Synex International Inc. is a public company trading on the Toronto Stock
Exchange (TSX) with businesses involved with the development, ownership and
operation of electrical generation facilities, as well as the provision of
consulting engineering services in water resources, particularly for
hydroelectric and other power facilities.

    "signed"

    Greg Sunell, President

    This press release contains forward-looking statements that involve risks
and uncertainties. These statements reflect our current expectations and are
subject to change. They are subject to a number of risks and uncertainties
including, but not limited to, changes in economic conditions, risks
associated with the construction and operation of hydroelectric facilities and
changes in government policies.





For further information:

For further information: 400 - 1444 Alberni Street, Vancouver, BC, V6G
2Z4, Phone (604) 688-8271 Ext. 372, Fax (604) 688-1286, E-mail:
gsunell@synex.com, Web Site: www.synex.com


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