Minaean Announces Private Placement of Units and Loan

MINAEAN INTERNATIONAL CORP.

FOR IMMEDIATE RELEASE

Friday, October 31, 2003
(No.03-10-10)

Contact:   
Investor Relations   
Phone (604) 684-2181
investors@minaean.com

Minaean Announces Private Placement of Units and Loan

Vancouver, BC, Canada – October 31, 2003 – Minaean International Corp. (TSX.V: MIB) (the Company") is pleased to announce that it proposes to issue up to 1.5 million units of the Company at a price of $0.20 per unit pursuant to a non-brokered private placement, for gross proceeds of up to $300,000. Each unit will consist of one common share and one-half of one share purchase warrant of the Company. Each whole common share purchase warrant will entitle the holder to purchase one common share at a price of $0.30 per share for twelve months from the date of issuance and $0.40 per share thereafter, to a maximum of two years from the date of issuance.

Further, the Company announces that it has arranged to borrow up to $200,000 pursuant to a promissory note which will bear interest at a rate of 12% per year.

The private placement is subject to regulatory approval. Finders fees and bonuses will be payable upon the above described financings per the policies of the TSX Venture Exchange.

This funding will speed up our business development activities in India and will be used for working capital purposes," states Capt. Mervyn Pinto, President and CEO of Minaean.
About Minaean
Minaeans 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 Minaeans offices in Surrey, British Columbia.
On behalf of the Board of Directors:
Peeyush Varshney "

Peeyush Varshney
Director

For further information, please contact:

Minaean International Corp.
Peeyush Varshney
peeyush@varshneycapital.com
Telephone: (604) 684-2181

Minaean Building Solutions Inc.
Mervyn Pinto
mpinto@minaean.com
Telephone: (604) 574-4786

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