Mr. John Bonner reports

AXION VENTURES ANNOUNCES ADDITIONAL AXION GAMES ACQUISITION

Axion Ventures Inc. has entered into an agreement to acquire an additional interest in Axion Games Ltd. Currently, the company owns, directly or indirectly through its majority-owned subsidiaries Axion Entertainment Holdings Ltd. and Axion Entertainment International Holdings Ltd., 113,706,954 shares in the capital of Axion Games, comprising approximately 54.22 per cent of the voting rights attached to all of Axion Games' voting securities.

Pursuant to the agreement, the company will acquire an additional 33,186,969 shares in the capital of Axion Games from an arm's-length shareholder of Axion Games. Completion of the proposed acquisition is subject to satisfaction or waiver of customary conditions, including receipt of any required approvals of the TSX Venture Exchange. Axion Ventures will pay the seller $4-million (U.S.) in cash as consideration for the Axion Games shares.

As a result of the acquisition, the company will hold, directly or indirectly, 146,893,923 shares in the capital of Axion Games, consisting approximately 70.05 per cent of the voting rights attached to all of Axion Games' voting securities.

About Axion Ventures Inc.

Axion is an investment issuer with majority ownership in Axion Games, an on-line video game development and publishing company headquartered in Shanghai, China, as well as in True Axion Interactive Ltd., a video game development company headquartered in Bangkok, Thailand, co-founded with True Corp. Axion also maintains complementary, minority holdings in innovative technology companies.

We seek Safe Harbor.