Manaris (AVNY)

[walterc]

With a little help fr5om a friend and from the PR firm

As stated in the Company's press release dated July 30, 2007, Manaris
redeemed the majority of the Notes and half the Warrants. The remaining
half of the Warrants remain with the holders of the Notes and have an
exercise price of $0.11 per share. While Manaris is pleased that the
redemption will serve to remove the extremely dilutive effect that the
outstanding Notes have had on Manaris' and its shareholders, as you
know, we cannot comment as to the effect of this redemption and the
outstanding warrants on the share price.

In addition, in response to your second query sent to Truc, Manaris felt
it was the right time to redeem some of the outstanding Notes and
Warrants.

However, we can confirm that the total Series Y and Z warrants went from
3,734,258 to 2,604,667 as a result of the redemption.

Best,
Dave