SYNEX INTERNATIONAL INC BARR CREEK LIMITED PARTNERSHIP

TSX : SXI

VANCOUVER, Oct. 4 /CNW/ - The Barr Creek Limited Partnership ("BCLP") and its general partner, Barr Creek Hydro Ltd. ("BCHL") are developing the Barr Creek Hydro Project (the "Project"). The Project is a proposed 4.4 MW hydroelectric plant to be located near the Village of Tahsis on Vancouver Island, British Columbia. BCLP and BCHL will own, construct and operate the Project during and after construction.

On October 1, 2010, Synex Energy Resources Ltd. ("SERL"), a wholly owned subsidiary of Synex International Inc., and the Ehatteshat Tribe ("EFN") subscribed for partnership units of BCLP and shares of BCHL. SERL subscribed for 90% of the units and shares and EFN subscribed for 10% of the units and shares. Under a separate agreement, EFN has the option up until January 14, 2011 to purchase from SERL an additional 10% of the units and shares.

The total value of the subscription by both parties on October 1, 2010 was $3.6 million. The balance of funds necessary to substantially complete construction of the Project is expected to be sourced from bank lending. Prior to October 1, 2010, the funds utilized had been from loan advances to BCLP from SERL and these loan advances were fully repaid at October 1, 2010.

Synex International Inc. is a public company, trading on the TSX since 1987, with business interests that cover the development, ownership and operation of electrical generation facilities and the provision of consulting engineering services in water resources, particularly hydroelectric facilities.

    
    "signed"
    ______________________________________
    Greg Sunell, President
    

For further information: 400 - 1444 Alberni Street, Vancouver, BC, V6G 2Z4, Phone [phone], Ext. 309, Fax [phone], E-mail: [email protected], Web Site: www.synex.com