Mr. Robert Guilbault reports

ARGEX ANNOUNCES RESIGNATION OF PETER H. SMITH AS DIRECTOR

Peter H. Smith has resigned as director of Argex Titanium Inc. Such resignation is effective immediately.

"We wish to thank Mr. Smith for his 3-1/2 years of service to the company and wish him the best in all his future endeavours," stated Robert Guilbault, chairman of the board of directors.