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INEX PHARMACEUTICALS ANNOUNCES COMPLETION OF BANKRUPTCY PETITION HEARING

October 14, 2005

INEX Pharmaceuticals Corporation (TSX: IEX) announced today that the hearing for the bankruptcy petition brought forward by Stark Trading and Shepherd Investments International Ltd. (collectively "Stark") has been completed. The judge has reserved judgment until October 27, 2005. INEX said it will report on the final judgment when it is received. Stark is the majority holder of certain promissory notes issued by Inex International Holdings, a subsidiary of INEX.

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