Arbatax International Inc. relocates corporate headquarters to Geneva and changes company name.

ZURICH, Switzerland--(BUSINESS WIRE)--March 3, 1997--Arbatax International Inc. (OTC Bulletin Board:ATANF and VSE:AAX.U) announced today that it has relocated its corporate and operating headquarters to Geneva, Switzerland.

The Company also announced that it has changed its name to MFC Bancorp Ltd. after receiving shareholder approval at a Special Meeting of Shareholders held on December 20, 1996. The Company will start trading under the new name today with the following symbols: OTC Bulletin Board: "MXBIF"and VSE: "MXB.U".

Michael Smith, President of MFC Bancorp, commented: "Our new name and the relocation of our corporate headquarters to Geneva are important to the Company as it will focus primarily on the development of the recently acquired private Swiss bank. As part of this effort, we are establishing additional offices in Zurich and London."

MFC Bancorp Ltd. operates in the financial service industry and, in particular, in private and merchant banking operations internationally.

Corporate headquarters information:

MFC Bancorp Ltd.

13 Route de Florissant

7th Floor

CH1211 Geneva 12 Switzerland Telephone: [phone] Facsimile: (41) 22 789 0803

CONTACT: Michael Smith, President

Rene Randall, Corporate Relations

[phone]

or

Morgen-Walke Associates

[phone]

June Filingeri/Jonathan Schaffer

Media Contact: Stan Froelich