April 03 , 2003
IVU-V UPDATE

PRIVATE PLACEMENT TO RAISE $3,100,000 REPRICED

The company has repriced a non-brokered private placement to raise up to $3,100,000 to reflect current market conditions. The offering will now include a unit consisting of one common share priced at $0.50 and a full warrant priced at $0.60 exercisable for a period of one year. This replaces the units described in the news release of March 7,2003.

A finders commission is payable in cash and units subject to regulatory approval.

BY ORDER OF THE BOARD

"Gary Medford, PhD., P.Geo."
Director

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.
The company relies on forward-looking statement litigation protection

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INTERNATIONAL PBX VENTURES LTD.
608-475 Howe Street
Vancouver, BC CANADA V6C 2B3
Toll-Free: 888-999-7748
Tel: (604) 681-7748
Fax: (604) 681-0568
www.internationalpbx.com
Email: [email protected]

Trading Symbol: IVU - Canadian Venture Exchange