Wavex Corporation Announces Quotation of Its Common Shares on National Quotation Bureau Pink Sheets

Toronto: May 27, 1999

Wavex Corporation announced that NASD Regulation Inc. has approved the quotation of the common shares of Wavex on the National Quotations Bureau Pink Sheets under the symbol WVXI.

Thomas G. Larsen, Chairman and CEO of Wavex said "the quotation of the common shares of Wavex is an important step in realizing value for our shareholders, by providing Wavex with access to the public capital markets to finance the expansion of its operations, and by providing our shareholders with liquidity for their investment in Wavex".

Wavex is a technology based company specializing in developing technically advanced sporting goods and industrial products incorporating its revolutionary WAVEX TECHNOLOGY™.

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 Corporation Forward-looking statements, especially those concerning future performance, are subject to certain risks and uncertainties, and actual results may differ materially.