``GLEXON,'' OXIR Investments, Inc.'s Internet Commodity Exchange Registers Clearing House in Russia.

Business Editors

LAS VEGAS--(BUSINESS WIRE)--June 27, 2001

Company First To Offer International B2B Model Guaranteeing

Transactions Through Banks; Targets International Market

Estimated To Be 7.29 Trillion Dollars By 2004

OXIR Investments, Inc. (OTCB:OXIR) announced that they have registered the clearing house needed as the final step in completing the Internet Commodity Exchange known as GLEXON. The Company believes GLEXON, the first platform to offer a B2B model that could guarantee the performance of it's transactions through banks, will replace the current common use of intermediaries who facilitate commodity exchanges throughout the world. GLEXON, which was designed to unite a system of worldwide inter-corporate relationships involving simultaneous national trading operations, is expected to draw considerable attention from the Oil and Commodities communities, as well any industry involved in International exchange.

Based on information provided by the Gartner Group (http:\\www.gartnerweb.com), by 2004 the volume of the world's B2B market transactions will have increased from 145 million (estimation as of 1999) to 7.29 trillion dollars. Today 63% of this market belongs to North America. By 2004 it will have decreased from 63% to 39%. Europe's B2B market will increase its volume from 31.8 billion dollars to 3.45 trillion dollars. By 2004, the transaction volume on the Asian B2B market will increase to 992 million dollars, in Latin America it will increase from 1 billion to 124 billion dollars.

The final step in bringing the online business model to fruition has taken over six months. "We believe it would have taken more than two years, and at a cost much higher than in Russia, to register the analogous model of GLEXON in the United States," said Vassili I. Oxenuk, President of OXIR Investments. The Company, which expects to present GLEXON to the American, European and other international markets, plans to launch "mirror" servers in the US and in other countries that will translate information into the World's most popular languages.

Up to this date, OXIR Investments, Inc. has provided all funding for this project, including hardware and software development. Cost-effectiveness dictates a rationally chosen method of GLEXON's development. "Without OXIR's unique expertise and industry connections, a project this large would have exhausted the financial capabilities of most companies our size a long time ago," concluded Oxenuk. The Company anticipates that less than $10 million in additional funding is needed to complete this project.

In addition to development of GLEXON, OXIR, through its wholly owned and majority owned subsidiary companies, is engaged in the business of (i) operating a web hosting center and an Internet services providing center in Moscow, Russia; (ii) offering a variety of financial services, asset management and financial consulting to non-US clients; and (iii) real estate development projects, including the construction of high-rise apartment complexes in Moscow.

Forward-looking Statement: The Private Securities Litigation Reform Act of 1995 provides a "safe harbor" for forward-looking statements. Certain information included in this new release (as well as information included in oral statements or other written statements made or to be made by OXIR Investments, Inc.) contain statements that are forward-looking, such statements related to consummation of the transaction, anticipated future revenues of the companies and success of current product offerings. Such forward-looking information involves important risks and uncertainties that could significantly affect anticipated results in the future and accordingly, such results may differ materially from those expressed in any forward-looking statements made by or on behalf of OXIR Investments, Inc. For a description of additional risks and uncertainties, please refer to OXIR Investments, Inc. filings with the Securities and Exchange Commission, including Forms 10K and 10Q.