Burlington, Ontario - THE JENEX CORPORATION ("Jenex" or the "Corporation") (TSX Venture Exchange – “JEN”), announces that it is proceeding with a brokered private placement of convertible debentures (unsecured) to raise gross proceeds of up to $750,000 from eligible investors. The debenture matures 24 months from the date of issue and is convertible, at the option of the holder, into Units of the Corporation at a price of $0.50 per Unit. Each Unit will consist of one common share and 0.85 of a common share purchase warrant. Each whole warrant will entitle the holder to purchase one additional common share of the Corporation for $0.60 per common share if exercised within 12 months and for $1.00 per common share if exercised anytime between 12 and 24 months from the date of grant.  The debenture will bear interest at the rate of 8 per cent per year, payable semi annually.  Capital Securities Inc., Toronto, Ontario, is agent for the offering on a best-efforts basis.

The debenture is callable at the option of the Corporation at par value plus accrued interest any time after the date which is 12 months from the date of closing the private placement. 

The proceeds from the private placement will be used to complete the development of the company’s cold sore prevention device and prepare for the Canadian launch in late 2003.

The transaction is subject to customary TSX Venture Exchange approval

About The Jenex Corporation

Headquartered in Burlington, Ontario, the Corporation has developed and patented a thermal therapeutic device for the prevention of cold sores. Patents in fifteen countries, including the United States, Canada, Australia, and the E.E.C protect the technology. The Corporation, while working on clearance to market in the USA, is preparing to launch their cold sore prevention device in the Canadian market in late 2003. Jenex has clearance to market the cold sore device in Canada with their approved claim “For prevention and relief of the symptoms of herpes labialis (cold sores), such as blistering, lesions, inflammation, and discomfort. Also helps alleviate the embarrassment that is typically associated with herpes labialis (cold sore) outbreaks”. Regulatory approvals will be pursued for Europe and Australia.  The HSV-1 virus that causes cold sores, is endemic in North America, and is estimated to affect 80% of the population. As the only product clinically proven to prevent the outbreak of cold sores, the Corporation's thermal therapy product has the potential to dominate a large and underdeveloped market.

"Prevention is the Solution"

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

For further information contact:

The Jenex Corporation
207 - 940 Sheldon Court
Burlington, Ontario
L7L 5K6

Attention: Michael A. Jenkins, President
Telephone: (905) 632-3830  Facsimile: (905) 632-3774
Email: Jenex@sprint.ca

For more information: www.jenexcorp.com