Warnex reviewing strategic options to enhance shareholder value



    LAVAL, QC, April 24 /CNW/ - Warnex Inc. (TSX: WNX) today announced that
it has initiated a review of various strategic options for its ongoing
laboratory services business in order to enhance shareholder value. These
options include, but are not limited to, partnerships, mergers or the sale of
the Company. The Board of Directors has created an Independent Committee to
identify and evaluate such options and has mandated an investment banking firm
to act as its advisor in this process.
    "The Board of Directors believes in the potential of Warnex's core
competencies in laboratory-based services to generate value and long-term
growth," said Richard Laferrière, Chairman of the Board of Directors of
Warnex. "However, in light of current market conditions, we believe this
process is in the best interest of shareholders and one that reflects strong
corporate governance."
    "Following the announcement of the planned divestiture of our pathogen
detection business, our strategy has been to focus on the profitable
laboratory services sector. We take great pride in the success of our
analytical, bioanalytical and medical laboratory divisions, which have always
been profitable and have generated a strong 5-year compound annual growth rate
of 44%," said Mark Busgang, President and CEO of Warnex. "We now wish to
explore all strategic options for our ongoing business in order to maximize
shareholder value. We have already received inquiries, which demonstrate the
recognition of our leadership in the lab sector and the attractive opportunity
that our Company presents."
    Warnex provides no assurance that the initiation of a process to explore
strategic options will result in a transaction. No decision has been made to
enter into any transaction at this time and no timetable has been set for the
completion of this process. The Company does not currently intend to disclose
developments with respect to the exploration of strategic options unless and
until its Board of Directors has approved a specific transaction.
    The Company will be holding its Annual Meeting of Shareholders today at
11:00 am at the Omni Hotel, 1050 Sherbrooke Street West, Montreal, Quebec.

    About Warnex

    Warnex (www.warnex.ca) is a life sciences company devoted to protecting
public health by providing laboratory services to the pharmaceutical and
healthcare sectors. Warnex's analytical services division provides
pharmaceutical and biotechnology companies with a variety of quality control
services, including traditional chemistry, chromatography, microbiology,
method development and validation, and stability studies. Warnex's
bioanalytical services group specializes in bioequivalence and bioavailability
studies for clinical trials. Warnex's medical laboratories division focuses on
genetic and biochemical testing for the healthcare industry and has extensive
expertise in genetic testing for human identification, molecular diagnostics,
and pharmacogenetics.

    CAUTION REGARDING FORWARD-LOOKING STATEMENTS
    Certain statements contained in this news release are forward-looking and
are subject to numerous risks and uncertainties, known and unknown. For
information identifying known risks and uncertainties, relating to the early
commercialization of Warnex products, intellectual property and licensing, R&D
of new Warnex products, integration of acquisitions, manufacturing and
laboratory facilities, suppliers, key employees, key customers and business
partners, financial resources and credit risk, government regulations, foreign
currency risk, volatility of share price, strategic alternatives for the
pathogen detection division, and other important factors that could cause
actual results to differ materially from those anticipated in the
forward-looking statements, please refer to the heading Risks and
Uncertainties in the Management's Discussion and Analysis in the 2006 Annual
Report, which can be found at www.sedar.com. Consequently, actual results may
differ materially from the anticipated results expressed in these
forward-looking statements.

    %SEDAR: 00010099EF




For further information:

For further information: Mark J. Busgang, President & CEO, Warnex Inc.,
Tel: (450) 663-6724 x310, mbusgang@warnex.ca; Mary Dellar, Investor Relations,
The Equicom Group Inc., Tel: (514) 844-4680, mdellar@equicomgroup.com

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