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IFEX seals Bahamas Film Studios deal

29 July 2005

IFEX Innovation Finance & Equity Exchange NV (Frankfurt:IFQ1,
ISIN:NL0000210532) has helped to finance the Bahamas Film Studios where Hollywood blockbusters Pirates of the Caribbean II and III are set to be filmed.

The shareholders of Gold Rock Creek Enterprises - the company that owns the Bahamas Film Studios Project - agreed Friday to transfer the activities of GRCE into a company quoted on the NASDAQ OTC bulletin board.

IFEX provided consulting services and introductions to advisors and brokers who will facilitate the reversal of the GRCE business into the US public company. IFEX will receive a fee of US$ 1.5 million in stock in the new company when it lists on the NASDAQ OTC in Q3 2005

IFEX NV (ISIN: NL0000210532) is a pan-European corporate finance organisation that facilitates funding solutions for small and medium sized enterprises. For further information please visit the IFEX website www.ifexgroup.com .

About Gold Rock Creek Enterprises Ltd / Bahamas Film Studios

Gold Rock Creek Enterprises is the developer of the Bahamas Film Studios project on Grand Bahamas Island, at the site of a decommissioned US missile base.

The Bahamas Film Studios complex looks set to turn the Bahamas into a major production centre for motion pictures and television shows, while Pirates of the Caribbean director Gore Verbinski has described its soon to-be-completed water tank as the most state-of-the-art in the world.

Disney is scheduled to start filming the US$ 400m blockbuster Pirates of the Caribbean parts II and III, starring Johnny Depp, at the studios later this year.

The NASDAQ OTC listing will support the management's aim to establish Bahamas Film Studios as the premier entertainment facility in the Caribbean basin, with a music recording facility, resort hotel, casino and movie theme park alongside the film and television production centre.

The full press release, complete with short video clips showing the Bahamas Film Studios, is available on the IFEX homepage at www.ifexgroup.com.
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