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Anavex Life Sciences engages Primoris Group to provide investor relations services

November 2, 2007 -- Anavex Life Sciences Corp. ("Anavex" or the "Company") (OTCBB: AVXL) is pleased to announce that it has engaged Primoris Group Inc. to provide investor relations services to the Company. Primoris Group is a full-service investor relations firm based in Toronto, Canada.

Primoris Group will implement a communications program to support Anavex's corporate growth strategy. Under the terms of the one-year agreement, which commenced November 1, 2007, Primoris Group will be paid a fee of $5,000 per month. Primoris Group has also been granted options to purchase 50,000 common shares of the Company exercisable for a period of five years from the date of issuance, at an exercise price of $3.75 per common share.

"Anavex is committed to its long-term growth strategy and to delivering value for the company and its shareholders," said Harvey Lalach, President of Anavex. "Primoris Group has a strong, proven track record in sharing company success stories with large and diverse audiences of investors. We look forward to increasing our recognition with individual investors and the larger financial community in support of our corporate initiatives."

Anavex's Sigmaceptor™-N program involves the discovery and development of novel and original drug candidates targeting neurological and neurodegenerative diseases. The Company's lead drug candidates exhibit high affinity for sigma receptors with strong evidence for anti-amnesic, nooanaleptic, neuroprotective, anti-apoptotic, anti-oxidatitive, anti-inflammatory, anti-convulsive, anti-depressant, anti-fatigue, anti-addictive and anxiolytic properties.

Anavex's Sigmaceptor™-C program involves the discovery and development of novel and original drug candidates targeting cancer. The Company's lead drug candidates exhibit high affinity for sigma receptors with strong evidence for selective pro-apoptotic, anti-metastatic and low toxicity properties in various types of cancer such as colon, prostate, breast and lung.