INEX PHARMACEUTICALS RECEIVES LETTER FROM MAJORITY NOTE HOLDER

Inex Pharmaceuticals Corporation ("INEX"; TSX: IEX) announced today that at the close of business on Friday December 16, 2005, it received a copy of a demand letter for repayment of the promissory notes (the "Notes") held by Stark Trading and Shepherd Investments International Ltd. (collectively "Stark"). Stark is the majority holder of the

Notes issued by Inex International Holdings, a subsidiary of INEX.

Canada NewsWire (http://www.newswire.ca/en/releases/archive/December2005/19/c1752.html)