Asia PR News

TORONTO, Canada, and JOHANNESBURG, South Africa, June 28, 2006 /CNW-AsiaNet/ –

Gedex Inc., a private Canadian corporation, has completed a strategic
agreement with De Beers, the world’s largest diamond mining group, which will
assist in the commercialization of Gedex’s new resource exploration
technology.

De Beers has contracted with Gedex to use its unique and proprietary high
definition airborne gravity gradiometer (HD-AGG(TM)) system in exploration
surveys and to provide related services over several years.

"De Beers is committed to using leading edge technologies in the
exploration for diamonds. We believe the Gedex AGG has the potential to make a
material difference in our ability to identify new resources," said Bill
McKechnie, Director, Group Exploration, De Beers.

Demand for resources is rising and making new discoveries is increasingly
difficult. Gedex’s HD-AGG could make a great contribution to increased
exploration success due to its anticipated high signal resolution and
capability to operate at high productivity rates.

"We are working with the mining, oil and gas industries to reduce risk,
cost and lead-time for new discoveries, while sharply enhancing the certainty
of discovery," said Gedex’s President and CEO, Robbie Banks. "Our airborne
HD-AGG will provide significant benefit and a strategic advantage for resource
companies."

Gedex’s system will provide unparalleled deep, sub-surface information by
measuring minute density differences in rock formations in prospective areas.
It can be used to discover new resources including diamonds, gold, silver,
coal, uranium, copper, zinc, nickel, iron, and aluminum, as well as oil and
gas. The system "sees" through water and is environmentally friendly - it can
fly safely over sensitive and difficult areas without affecting wildlife or
the natural environment.

A Unique New System
Current commercial gravity gradiometry evolved from US military programs
in the 1970s. When development is completed, Gedex’s HD-AGG system is expected
to be the world’s highest resolution and fastest system available for airborne
surveys. It rapidly and effectively measures minute gravity differences that
are key to identifying important geological structures. Exploration teams will
clearly image sub-surface anomalies from data that can pinpoint resource
deposits from near surface to many kilometres deep into the earth.

Gedex’s system combines technologies developed by the University of
Maryland, the Canadian Space Agency, the University of Western Australia, and
Gedex’s development team.

Private Placement
Gedex is raising private equity capital for further development. Part of
the proceeds from this financing will be used to complete the engineering
required to operate the HD-AGG system in a stabilized, airborne environment.
Gedex plans to commercialize the system, which is thoroughly protected by
comprehensive patents and licenses, in 2007.

About GEDEX, Inc.: Gedex is a private company incorporated in 1999 and
headquartered in Mississauga, Canada. Gedex’s new gravity gradiometer product
will provide images of subsurface density that will, independently and in
conjunction with other data, provide valuable information to engineers and
geologists exploring for and delineating subsurface resources and structures.
HD-AGG also has military, government, sovereignty, space, ground water, and
other applications.

Gedex was founded by its chairman Bill Breukelman, who was also a founder
of IMAX, now a worldwide entertainment enterprise, and Sciex, an integral part
of global life sciences company, MDS.

SOURCE: Gedex Inc.

/CONTACT: George Soteroff, Senior V.P. Corporate Affairs,
Telephone: +1-905-281-0766, Ext. 1204, Mobile: +1-416-434-9678,
george.soteroff(at)gedex.ca; www.gedex.ca/