VANCOUVER, BRITISH COLUMBIA--(MARKET WIRE)--Nov 12, 2008 -- International PBX Ventures Ltd. (CDNX:PBX.V - News) wishes to provide an update on the affairs of the company.

In light of the current market conditions the company is reducing expenditures to conserve cash at the same time continuing to look for opportunities to effectively move our projects forward. The company is debt free and has over $2 million in the treasury, sufficient to remain operational for several years. The company remains strong and will be well positioned to aggressively move forward with a market turn.

Investors are invited to visit the company website at www.internationalpbx.com where a "President's Letter to the Shareholders" is available for viewing providing further information on the company's current status and strategy for future growth.

About PBX

International PBX Ventures is a Canadian junior mining and exploration company focused on acquisition and development of molybdenum, copper and gold properties in Chile. PBX's shares trade on the Toronto Stock Exchange under the symbol PBX.

ON BEHALF OF THE BOARD OF DIRECTORS OF INTERNATIONAL PBX VENTURES LTD.

George Sookochoff, President & CEO

The company relies on "forward-looking" statement litigation protection.

The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

     Contacts:
     International PBX Ventures Ltd.
     George Sookochoff
     President & CEO
     (604) 681-7748 or Toll Free: 1-877-681-1154
     (604) 681-0586 (FAX)
     Email: info@internationalpbx.com
     Website: http://www.internationalpbx.com