EREX-"The Dragonfly" (fka EREX)

[sdhollen]

Civil Fraud Lawsuit Filed By E-Rex Shareholder Near The Discovery Phase

MIAMI, June 6 /PRNewswire-FirstCall/ -- All six defendants in a civil fraud lawsuit against E-Rex, Inc. (OTC Bulletin Board: EREX) and its officers and against International Investment Banking Inc. (IIBI) have answered the suit and the plaintiff's law firm is moving toward the discovery process in the next few days, according to plaintiff Chris Ford, successor trustee of the Carol Gamble Trust 86.

Ford, a major shareholder in E-Rex, said the company has made no formal attempt to settle the case for fraud, civil theft, failure to repay a promissory note and breach of fiduciary duties on the part of E-Rex, a Miami- based technology development company, and Donald Mitchell, who was serving as chairman and president of IIBI at the same time he was chairman of the board at E-Rex. Ford's suit also names E-Rex President, CEO and Director Carl Dilley, Director Joseph Pacheco, and former Director and Treasurer Jeffrey Harvey.

Ford also said E-Rex has made no formal attempt to settle a class action lawsuit/class action pending brought by a group of E-Rex shareholders against the company in Federal Court in Nevada in February 2002. The next hearing on that case is set for July 8 in Las Vegas.

Ford said the attitude of management is clearly reflected in a February 2 article in the South Florida Business Journal, which quoted E-Rex president and CEO Carl Dilley: "I have no control over the gamblers of the world that would be so foolish as to put their life savings in any OTC stock, including ours, and actually for no one does it make sense to invest your life savings in any stock ...An investment in our company is by any measure speculative and no one should put one penny in this company that they are not prepared to lose." Dilley wrote this in a February 2, 2002 e-mail, according to the Journal.

For more information regarding the E-Rex situation, including transcripts of the shareholder lawsuits, please contact Andrew M. Rose, Marketing Ink, Inc. at [phone], [phone] (cell 24/7) or [e-mail]

SOURCE Chris Ford, successor trustee of the Carol Gamble Trust 86

CONTACT: Andrew M. Rose of Marketing Ink, Inc.,
[phone], or cell, [phone], or [e-mail], for Chris
Ford