Notification of Inex Pharmaceuticals Corporate Update Webcast

VANCOUVER, June 20 /PRNewswire-FirstCall/ -- Inex Pharmaceuticals Corporation ("INEX"; TSX:IEX) announced that it will hold a conference call and webcast on June 21, 2006 to discuss Company developments including the recent debt settlement announcement.

The conference call will be held on Wednesday, June 21, 2006 at 5:30 a.m. PDT (8:30 a.m. EDT).

To participate in the conference call: Please dial 416-340-2216 or 1-866-898-9626. The call will be available for replay until June 28, 2006 by calling 416-695-5800 or 1-800-408-3053 and entering the pass code 3190895 followed by the number sign.

To access the live or archived webcast: visit the Company's website at http://www.inexpharm.com/.

Forward Looking Statements

There are forward-looking statements contained herein that are not based on historical fact, including without limitation statements containing the words "believes," "may," "plans," "will," "estimate," "continue," "anticipates," "intends," "expects," and similar expressions. Such forward- looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, events or developments to be materially different from any future results, events or developments expressed or implied by such forward-looking statements. Such factors include, among others, INEX's stage of development, lack of product revenues, additional capital requirements, risks associated with the completion of clinical trials and obtaining regulatory approval to market INEX's products, the ability to protect its intellectual property and dependence on collaborative partners. These factors should be considered carefully and readers are cautioned not to place undue reliance on such forward-looking statements. The Company disclaims any obligation to update any such factors or to publicly announce the result of any revisions to any of the forward-looking statements contained herein to reflect future results, events or developments.

Contact Information Inex Pharmaceuticals Corporation Investors Ian Mortimer Vice President, Finance and Chief Financial Officer Phone: [phone] Email: [e-mail]: http://www.inexpharm.com/ Media Karen Cook James Hoggan & Associates Inc. Phone: [phone] Email: [e-mail]