Centrex, Inc. Signs Agreement to Acquire MicroCars International and to Market MicroCars Manufacturing Technology Internationally.

SAN DIEGO -- Centrex, Inc. (Pink Sheets:CTXI) today announced that a final agreement has been reached with MicroCars, Pvt Ltd., a Sri Lankan company, to handle the international license and business development for the automobile assembly operations that has been developed in Sri Lanka. Centrex will acquire 51% interest and assume control of MicroCars International, a wholly owned subsidiary of MicroCars. This acquisition gives Centrex the rights to represent the MicroCars technology and manufacturing systems in all markets outside Sri Lanka. The Company already has inquiries from several nations, including Nepal, Bhutan, Syria and Sudan.

Stated Jeffrey Flannery, CEO of Centrex, "We have long been very impressed with the capabilities that have been developed at MicroCars in Sri Lanka and our involvement is really a result of the success MicroCars has already demonstrated to the world. We will immediately begin discussions with interested parties to explore the feasibility of creating assembly operations in these developing countries."

Centrex will offer the MicroCars system on a license basis. MicroCars will provide support in design and engineering of the physical plant, training of workers, assistance in materials procurement and management, training in the use of special manufacturing, assembly and quality control technologies, as well as assistance in marketing and government relations. Centrex will receive a percentage of the license agreements it is able to negotiate with parties in other countries, as well as a percentage of royalties or other fees that are associated with each new transaction for a term of three years. This term is renewable for another three years. License fees, royalties and other fees are still being negotiated and most likely will be determined on a case by case basis.

MicroCars was established in 2001 by Dr. Lawrence Perera, a veteran automotive designer and engineer who had previously worked with BMW, Volkswagen and other major automobile manufacturers. Dr. Lawrence developed the concept to create a car manufacturing system that is far less capital intensive so that smaller, developing nations can use the labor force to manufacture and assemble quality, economical cars, vans and pickup trucks.

More information on Centrex, Inc. can be found at www.centrexglobal.com. Information on MicroCars, Ltd. can be found at www.microcars.lk.

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