FAS International (formerly Pacific Laurentian) - Update.

CALGARY, Alberta--(BUSINESS WIRE)--Nov. 26, 1996-- FAS International Limited (Alberta Stock Exchange: PLU) (formerly Pacific Laurentian Capital Corporation) (the "Corporation") hereby announces that the negotiations with companies with Chinese joint- venture interests, as previously announced, have terminated.

The Corporation has since entered into an agreement dated March 5, 1996, as amended October 13, 1996 (the "Acquisition Agreement") to acquire all of the issued and outstanding securities of FAS Medical Worldwide Ltd. ("FASWW") and FAS Medical Ltd. ("FML") in consideration for the issuance of 17,625,000 common shares of the Corporation. In addition, the Corporation entered into a creditor assignment agreement whereby dated August 26, 1996 the Corporation is to be assigned certain long term debt of FASWW in consideration for the issuance of 3,375,000 Common Shares of the Corporation.

FML develops, and FASWW holds the exclusive worldwide license for, products founded upon a technology called The Fibrin Analysis System. The business objectives of FASWW and FML are to develop and market a range of medical device technologies focussed upon improving the diagnosis and management of infection problems which occur in patients having in-dwelling central venous catheters.

The acquisition of FASWW and FML was approved at the shareholders meeting of April 8, 1996, and is conditional upon a public offering of the Corporation's common shares and the listing of the Corporation's common shares upon The Alberta Stock Exchange.

The Corporation has filed a prospectus with the Alberta Securities Commission in respect of an offering of 5,800,000 common shares at a price of $0.35 per share and the qualification of 1,095,640 common shares issuable upon the exercise of 1,095,640 special warrants. The Corporation has received conditional listing approval from The Alberta Stock Exchange and has received a final receipt for the prospectus.

The current directors and officers of the Corporation, who will maintain such positions subsequent to the closing of the Acquisition, the Creditors Assignment Agreement and Offering, are Mr. Neil W. Speakman of Woking, England, Dr. Anthony Nicholls of Petersfield, England, Mr. Michael Davenhill of London, England, Mr. Paul G. Jeffrey of Toronto, Ontario, Mr. Nicolas Desmarias of Vancouver, British Columbia, Dr. Ralph Hawkins of Kelowna, British Columbia, Mr. R. Michael Zwack of Calgary, Alberta and Ms. Laura J. Garcia of ByFleet, England.

Mr. Neil Speakman obtained a degree of Bachelor of Commerce from the Melbourne University and is qualified as a Chartered Accountant in Australia. Mr. Speakman is currently a director of Turbo Genset Inc. and Xenotech Inc., both of which are currently listed upon The Alberta Stock Exchange and of Compact Power Holdings Limited, which is quoted on The Canadian Dealing Network Inc.

Dr. Anthony Nicholls, was awarded his doctorate from Birmingham University in 1973 for original work on the serological diagnosis of bacterial infection of the lungs. After graduating Dr. Nicholls was a founding member and for seven years Head of Immunology and Microbiology at Midhurst Medical Research Institute, Sussex, England. In March, 1992 Dr. Nicholls founded Trinity Biotech plc. He was the founding President, CEO, served as a Director, and became its Chairman in late 1993. Following two private placements of $1 million and $1.5 million, Trinity conducted an initial public offering on the NASDAQ exchange in October 1992 raising $5.4 million. Dr. Nicholls oversaw and directed the establishment of a fully integrated headquarters operation in Dublin, Ireland where the company produced saliva-based rapid diagnostic tests for HIV and other diseases.

He is an inventor of patented technology for collection of saliva for use in diagnostic testing. Dr. Nicholls resigned from Trinity in March 1994 to concentrate on founding FML. He left Midhurst to become Scientific Director of Flow Laboratories Inc. a biotechnology company which produced the first lots of B- interferon. Dr. Nicholls left Flow Laboratories Inc. in 1983 to join Corning Medical, Oberlin, Ohio, USA, as Director of New Technology and was responsible for the introduction of many new analytical tests as well as control products for clinical chemistry, therapeutic drug monitoring and Drugs of Abuse screening.

Following the joint-venture with Ciba-Geigy that created Ciba-Corning Diagnostics, he became Director of Strategic Planning and later Director of Marketing. In 1987 Dr. Nicholls was appointed Vice President and General Manager of the Bioanalytical Division of Fisher Scientific, Pittsburgh, USA, where he was responsible for Chemicals, Chromatography, Biotechnology and Analytical Instrumentation. In 1989 Dr. Nicholls became firstly Director and Executive Vice President and later President of Biotech Research Laboratories (BTRL), Rockville, USA. This company was the only FDA approved supplier of confirmation tests for HIV. In 1990 Dr. Nicholls negotiated on BTRL's behalf the merger with Cambridge BioScience to form Cambridge Biotech Corp. simultaneously raising $29 million in a secondary public offering.

Mr. Michael Davenhill, is a graduate of Oxford University, is a Certified Accountant, and holds a Master's degree in Mathematics. He has been the financial director of significant companies including J. Walter Thompson Group Ltd., Benton & Bowles Limited and Marshall Cavendish. Mr. Davenhill is currently an independent financial consultant.

Mr. Paul Jeffrey, graduated from Queen's University, Kingston, Ontario in 1949. Since 1977 Mr. Jeffrey has been an independent shareholder and director of F H Deacon Hodgson Inc., which later merged with Nesbitt Thomson, which in turn became controlled by the Bank of Montreal. Since 1988 Mr. Jeffrey has been the Chairman and Director of CanAustra Capital Corporation, a federal corporation specializing in providing corporate and financial advisory services to public and private corporations and other investors in Canada, the United States, Singapore and Australia. Mr. Jeffrey is currently the Chairman of Wild Horse Resources Ltd. (ASE), as well as a director of Azcar Technologies Incorporated (ASE), Turbo Genset Inc. (ASE), Xenotech Inc. (ASE) and Compact Power Holdings Limited (CDN). Mr. Nicholas Desmarais obtained his B. Comm. from Simon Fraser University in 1985 and his LLB from the University of Calgary in 1988. From September 1989 to March 1990, Mr. Desmarais practiced law as an associate at Lang Michener Lawrence and Shaw, Barristers and Solicitors, and was corporate counsel of Granges Inc. from April 1990 to July 1993. Mr. Desmarais has been the managing director of legal services of The Jim Pattison Group since August, 1993.

Dr. Ralph Hawkins obtained his MD from the University of Saskatchewan in 1981 and achieved his LMCC in June 1982. He was admitted to the American Board of Internal Medicine in 1987 and obtained his certificate of special competence in Nephology in 1989 from the Royal College of Physicians and Surgeons of Canada. Dr. Hawkins also was certified by the American Board of Internal Medicine, Nephology in 1993. From 1983 to 1985 Dr. Hawkins maintained a general medicine practice. From 1985 to June 1987 he practiced Internal Medicine and from 1987 to 1989 he practiced Clinical Nephology. Dr. Hawkins is currently the director of Dialysis and Renal Programs at Kelowna General Hospital, Kelowna British Columbia and has served as such since 1991.

Mr. Michael Zwack, a director of the Corporation, is a partner of the firm of Ogilvie and Company, Barristers & Solicitors. Mr. Zwack is also a director of a number of listed companies, including Turbo Genset Inc., Epic Energy Inc., DiscoverWare Inc., which are listed upon The Alberta Stock Exchange, and Phonettix Intelecom Ltd., which is listed upon the Toronto Stock Exchange.

Ms. Lauria Garcia, was awarded her baccalaureate in Biology and Medical Technology from Russell Sage College, Troy, New York in 1980, and received Board Certification from the American Society of Clinical Pathologists in the same year. In 1984 she was awarded a Graduate Certificate in Business and Management from Harvard University, Cambridge, MA, USA. Ms. Garcia worked at New England Deaconess Hospital, Boston, MA, USA from 1980 to 1984 as a Medical Technologist in routine clinical chemistry and surgical STAT laboratories. In 1984 she joined Instrumentation Laboratories, Lexington, MA, USA, as a scientist and developed tests for therapeutic drug monitoring as well as calibrators for clinical chemistry and therapeutic drugs.

In 1987, Ms. Garcia joined Cambridge Biotech, Worcester, USA, and was the Project Leader for the development of the Recombigen HIV-1/2 RTD. In October 1993, Ms. Garcia was appointed Marketing Director of Trinity Biotech plc, Dublin, Ireland, with world-wide responsibility for regulatory affairs, marketing, sales, training programs and corporate branding. She also chaired the Operations Management Group. Ms. Garcia resigned her full time position at Trinity Biotech in June 1994, to concentrate on the founding of FML.

The Alberta Stock Exchange has neither approved nor disapproved the information contained herein.

CONTACT: FAS INTERNATIONAL LIMITED (formerly Pacific Laurentian)

Mr. Neil Speakman, 011/44-1483-772699

or

FAS INTERNATIONAL LIMITED (formerly Pacific Laurentian)

Laura Garcia, 011/44-1932-780333