Minaean Building Solutions Inc. Concludes MOU for Projects in Libya

MINAEAN INTERNATIONAL CORP.

FOR IMMEDIATE RELEASE
(No. 03-07-02)
Contact:   
Investor Relations
Phone (604) 684-2181
info@varshneycapital.com

Minaean Building Solutions Inc. Concludes MOU for Projects in Libya

Vancouver, British Columbia (PRWEB) July 21, 2003 - Minaean International Corp. (TSX.V: MIB) and its wholly-owned subsidiary, Minaean Building Solutions Inc. ("MBS") of Surrey, British Columbia, known for its "Vesta Quik-Build" steel building system and its pioneering role in introducing the latest cost effective construction systems into developing countries, are pleased to announce that MBS has entered into a Memorandum of Understanding ("MOU") with MKUMAR & Associates Pvt. Ltd. ("MKAPL") of the MKUMAR Group of Companies, headquartered in New Delhi, India, to jointly undertake various construction projects in Libya, Middle East.

The MOU sets out a framework pursuant to which the parties will enter into a joint venture arrangement to pursue negotiations on the construction of Economic Housing Projects and other similar projects in Libya, which have been initiated by Libyan government companies. MKAPL has been operating in Libya for many years.

The joint venture shall shortly undertake construction of a model apartment unit in Libya in anticipation of finalizing larger contracts immediately thereafter.

About Minaean Building Solutions Inc.

Minaean is a company whose primary objective is to market and commercialize innovative building construction technologies and products that improve the efficiency with which residential and commercial structures are built. Minaean's core business is the development and production of the "Vesta" quick building framing system that utilizes load-bearing steel panels in place of traditional "stick build" construction methods based on wood or steel studs.

Minaean has focused its initial marketing efforts in India, to penetrate that region's massive housing market (Business India Magazine, August 19th, 2002 issue, reports that there is a shortfall of 41 million homes in India.) Although Minaean's initial focus is India, other markets of interest include North America, Latin America, Middle East and other countries within Asia. The research and development of Minaean's rapid construction technology processes have been completed at the company's headquarters in Surrey, British Columbia.

About MKUMAR & Associates Pvt. Ltd.

MKAPL's competent core area is to provide comprehensive architectural and engineering consultancy services, including project management in India and other countries, for housing and infrastructural projects. MKAPL has undertaken major projects in fields such as mass housing, airports, railways and roads in Libya.

On behalf of the Board of Directors:
" Peeyush Varshney "

For further information, please contact:
Peeyush Varshney, Director, (604) 684-2181

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