---

Tirex Receives the Second of Three Payments Totaling $1,240,000 CDN

2 December 1999

Tirex Receives the Second of Three Payments Totaling $1,240,000 CDN Through the Canadian Federal Government Refundable Investment Tax Credit Program

    MONTREAL--Dec. 2, 1999--The Tirex Corporation (OTCBB:TXMC) has announced that it received $450,000 CDN from the Federal Government under the Refundable Investment Tax Credit Program.
    This is the second of three disbursements issued under this program. The first was received November 8th, 1999, in the amount of $606,948 CDN. The company anticipates obtaining the final amount before the end of the 1999 calendar year.
    Most of these funds have been used to pay down the current line of credit granted by SCOTIABANK, to reimburse the Government of Canada on loan agreements, to pay taxes and expenses relating to the development of the company's technology. The remaining moneys will serve to complete TIREX's Cryogenic Tire Recycling System, the TCS-1, which is currently undergoing improvements.
    Tirex reports that good progress is being made in the rebuilding of the freezing tower where earlier technical problems had been identified. Delivery delays for certain custom-made parts, however will delay the TCS-1's being fully operational which is expected near the year end.