1693062 Ontario Inc. purchases shares of Pyxis Capital Inc.

    TORONTO, July 9 /CNW/ - 1693062 Ontario Inc. announces today that it has
agreed to purchase 2,700,000 Non-voting shares of Pyxis Capital Inc. in a
private transaction at a price of $0.30 per Non-voting share.
    The purchase brings 1693062 Ontario Inc.'s holdings to: 80.2% of the
outstanding Common Shares; 87.5% of the outstanding Non-voting Shares; and 92%
of the outstanding Dividend Shares. As previously announced 1693062 Ontario
Inc. will seek to acquire the remaining shares it does not own through a
Subsequent Acquisition Transaction.

    %SEDAR: 00023389E

For further information:

For further information: 1693062 Ontario Inc. Andrew Kim, President,
Suite 109 - 2 Toronto Street, Toronto, ON, M5C 2B5, Telephone: (416) 867-9390,
Facsimile: (416) 946-1473

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