WAVEX Announces Sponsorship of the Worldwide Senior Tennis Circuit

Toronto: January 26, 2000

Wavex International Inc. and its subsidiary company, Wavex Corporation ("Wavex"), are pleased to announce today that Wavex has signed an agreement to become the official racquet sponsor of the USA portion of the 2000 Worldwide Senior Tennis Circuit season. The term of this agreement will be January through October 31, 2000. The Senior Tour features the greatest players and personalities in tennis history, including Jimmy Connors, John McEnroe, Bjorn Borg, Mats Wilander, Yannick Noah, Guillermo Vilas, Henri Leconte, Andres Gomez, Mansour Bahrami and John Fitzgerald. Players compete for over $3.5 million in prize money and valuable Masters Points throughout the season. Wavex will have official sponsor status at six events scheduled to take place in the USA. The Senior Tour has grown to 21 events with play on all five continents.

Wavex is a technology based company specializing in developing technically advanced sporting goods and industrial products incorporating its revolutionary WAVEX TECHNOLOGY™. Wavex International Inc.'s shares are publicly traded on the NQB "Pink Sheets" under the symbol WVXI.

For Further Information:
Thomas G. Larsen, Chairman and Chief Executive Officer
Tel: (416) 203-1768 or 1 (800) 848-1892 Fax: (416) 361-1333
Jorge Estepa, Vice President and Secretary
Tel: (416) 203-1768 or 1 (800) 848-1892 Fax: (416) 361-1333

This news release may contain forward-looking statements relating to the future performance of Wavex International Inc. (Wavex). Forward-looking statements, especially those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially.