FOR IMMEDIATE RELEASE

TIREX DELIVERS 2ND MAJOR COMPONENT OF SCRAP TIRE
DISINTEGRATION SYSTEM

MONTREAL, CANADA, March 10, 1998 -- The Tirex Corporation (OTC BULLETIN BOARD - "TXMC") announced today that it has delivered the cryogenic tire freezing section of its patented scrap tire disintegration system (the "TCS-1") to its first customer, Oceans Tire Recycling & Processing Co., Inc., of Toms River, New Jersey. This follows the January delivery of the fully automated front-end module of the TCS-1. Delivery of the final section, the disintegration system will complete the first TCS-1 and is expected to occur by or before April.

The fully automated front-end of the TCS-1 processes up to five tires per minute, separating the tread from the potentially more valuable sidewall sections, cutting them into one-foot segments, and feeding them into the freezing chamber which produces a compressed stream of air cooled to 240 degrees below zero (Fahrenheit). This cools the tire sections to the point where Tirex's patented disintegrator can easily fracture them yielding: (i) rubber crumb suitable for regrinding into rubber powders of varying degrees of fineness down to -40 mesh; (ii) clean steel wires; and (iii) sections of intact fiber cord. The TCS-1 uses no chemicals and will not produce any pollution.

Tirex sells the front-end and freezing sections of the TCS-1 for a price of $1,225,000 and has already received payments totaling $880,000 for the components, which have been delivered to Oceans Tire. Tirex leases the patented disintegration section of the TCS-1 System under a five-year operating lease and lease payments of $12,500 per month are expected to begin within one month of the anticipated April delivery of the disintegration section to Oceans Tire. A Company affiliated with Oceans Tire has ordered an additional eight TCS-1 Systems for an aggregate contract price of 24 million dollars (including all 5-year operating lease payments). Tirex has received $25,000 deposits on five of such Systems. Tirex has also entered into a contract for, and received a $25,000 deposit on, an additional TCS-1 with Recycletron Inc. of Montreal, Canada for a total contract price of 2.5 million dollars. Tirex expects to be able to complete construction and delivery of two TCS-1 Systems during calendar 1998 and to be able to fill all other orders presently on hand by the end of 1999.

Last week, Tirex announced that the United States Patent and Trademark Office has allowed its patent application covering the Tirex scrap tire disintegration process and that the Bank of Montreal has granted a line of credit in the amount of $937,000 Canadian dollars (US $659,367) to Tirex Canada.

Tirex is engaged in designing and developing, and in the early stages of manufacturing and selling, scrap tire disintegration equipment.