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Sept. 11 , 2002
IVU-V UPDATE

INCENTIVE STOCK OPTIONS TO BE SET

International PBX Ventures Ltd. intends to set, subject to regulatory approval, incentive stock options to company insiders and employees allowing purchase of 1,740,000 shares at a price of $0.10 for a period of two years.


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