Pyxis Capital Inc. - Special Dividend

    TORONTO, Aug. 31 /CNW/ - Pyxis announced today that recent monetizations
of its long term investments have increased the Company's liquid assets and it
intends to distribute a portion of its excess retained capital to equity
shareholders through a special one-time cash dividend of $2.50 per Common
(PYX) and Non-voting share (PYX.a). The Special Dividend will be paid on
September 28, 2007 to holders of record on September 14, 2007.

    Pyxis is a financial services company. The Company's equity shares trade 
under the symbol PYX and PYX.a.

    This press release includes certain forward looking statements including
management's assessment of the Company's future plans and operations based on
current views and expectations. All statements other than statements of
historic facts are forward looking statements. These statements contain
substantial known and unknown risks and uncertainties, some of which are
beyond the Company's control. The Company's actual results, performance or
achievement could differ materially from those expressed in, or implied by,
these forward looking statements. Readers should not place undue reliance on
these forward looking statements which represent estimates and assumptions
only as of the date on which such statements are made. The Company undertakes
no obligation to publicly revise or update any forward looking statements,
whether as a result of new information, future events or otherwise.

    %SEDAR: 00023389E

For further information:

For further information: Andrew Kim, President and Chief Executive
Officer; PYXIS CAPITAL INC., 175 King Street East, 2nd Floor, Toronto,
Ontario, M5A 1J4, Telephone: (416) 867-9079, Facsimile: (416) 867-1961

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