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July 30, 2002
IVU-V UPDATE

PRIVATE PLACEMENT TO RAISE $150,000

International PBX Ventures Ltd. has arranged to raise $150,000 by way of a non-brokered private placement of 1,500,000 units consisting of a share priced at $ .10 and a two year warrant priced at $.10 the first year and $ .125 in the second year. The funds will be used for general working capital.

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