EREX-"The Dragonfly" (fka EREX)

[sdhollen]

E-Rex Shareholder Files New Lawsuit Alleging Fraudulent Diversion of Corporate Assets

MIAMI, May 20 /PRNewswire/ -- A major shareholder in E-Rex (OTC Bulletin Board: EREX) has filed a new lawsuit against the company and its officers and against International Investment Banking Inc. (IIBI) and its officers, alleging fraud, civil theft, failure to repay a promissory note and breach of fiduciary duties.

Shareholder Chris Ford, successor trustee of the Carol Gamble Trust 86, filed the lawsuit on April 16 against 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. All parties named in the lawsuit were served as of May 8, 2002. They have 20 days to respond.

For more information regarding the E-Rex lawsuit, please contact Andrew M. Rose, Marketing Ink, Inc. at [phone] or [e-mail].

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

/CONTACT: Andrew M. Rose of Marketing Ink, Inc., [phone], or
[e-mail], for Chris Ford, successor trustee of the Carol Gamble
Trust 86/