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Tirex Enters Agreement With Allied International Management & Trading

25 October 1999

Tirex Enters Agreement With Allied International Management & Trading Corporation, to Develop Strategic Alliances in Central and South America

    MONTREAL--Oct. 25, 1999--The Tirex Corporation (OTCBB:TXMC) announced today that it has entered into an agreement with Allied International Management & Trading Corp. to act as its advisors to develop strategic alliances for the Company in Central and South America.
    Tirex is the manufacturer of a patented cryogenic tire recycling system (the "TCS-1") which produces recycled rubber for resale to downstream molders and extruders of products for the retail and industrial trade. Tirex has developed and continues to develop rubber/polymer compounds which present attractive product/market opportunities for a broad-based array of industrial and consumer products, both in terms of improved existing product characteristics and in terms of new products which could become available to the marketplace.
    Terence C. Byrne, CEO, stated that the agreement with Allied International Management will allow the Company to introduce its TCS-1 tire recycling technology to large environmental companies in Central and South America. Mr. Byrne expressed the hope that that this relationship would open the door for the Company to develop key strategic alliances in these geographic regions.
    The TCS-1 patented cryogenic tire recycling system remains on schedule for commercial production for the end of the current calendar year.