Qixel Opens Base In Silicon Valley

QIXEL ESTABLISHES HEAD OFFICE IN SILICON VALLEY NAMES ROBERT A.

STERN CHIEF FINANCIAL OFFICER

AUCKLAND, NEW ZEALAND - April 17, 2000 - Qixel Capital Group, Inc. today announced that it had opened its head office in Silicon Valley.

The office will be responsible for investor relations, strategic planning and US business partner relationships.

The company has also appointed Robert A.Stern Executive Vice President and Chief Financial Officer. Mr Stern reports to Greg Cross, Chief Executive Officer of Qixel.

Prior to joining Qixel, Mr. Stern, 43, served as Vice President and Chief Financial Officer of InnerDyne Inc. (Nasdaq: IDYN), a surgical access and biotechnology company, with headquarters in Sunnyvale, CA.

During his four years at InnerDyne, Mr Stern was responsible for recapitalising the company, revitalising the corporate infrastructure, negotiating corporate alliances and developing and maintaining financial community relationships.

Mr. Stern supervised a team which was focused on developing treatments for restenosis and a series of technologies which provided enhanced treatment options for prostate, breast, and brain cancers. Mr Stern was one of the inventors of these technologies.

From October 1991 to January 1996, Mr. Stern held the position of Chief Financial Officer, Vice President of Corporate Finance and Director of RhoMed Incorporated, a New Mexico-based biopharmaceutical company trading on the American Stock Exchange as Palatin Technologies.

Previously, he was the principal stockholder and Managing Director of R.A. Stern & Associates, an investment banking, and money management company, which was sold to PaineWebber in 1989.

Mr. Stern received a B.S. degree from the University of New Hampshire, Whittemore School of Business and Economics, and an MBA from the University of New Mexico, Anderson School of Management.

Greg Cross, CEO of Qixel, commented, "We are very pleased to welcome Bob, as his broad international experience with public and private companies contributes important financial, communications and management skills to our global team.

We are now aggressively positioned to pursue our strategy to quickly grow and replicate our successful model for introducing proven e-commerce businesses into the burgeoning Asia/Pacific region.

" Qixel Capital Group, Inc. is an Internet holding company that cultivates companies focused on the development of business-to-business e-commerce in Asia/Pacific.

Qixel's specialised services enhance Internet infrastructure in Southern Hemisphere and Pacific-rim countries by partnering with local companies to build efficiencies, speed learning curves and deploy proven Internet solutions in new markets.

Through its existing network of e-commerce-focused companies, Qixel provides a variety of resources to enable end-to-end e-commerce solutions for nascent market entrants.

For more information, please visit the Company's web site at www.Qixel.com. Contact Information: Qixel Capital Group, Inc.
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