Minaean Announces Closing of First Tranche of Private Placement of Units

Minaean International Corp. (MIB - TSX Venture), is pleased to announce that it has closed the first tranche of its combined brokered and non-brokered private placement of units initially announced on April 24, 2008 for gross proceeds of $981,349,87. The brokered portion of the private placement was led by First Canadian Capital Markets Ltd. (the "Finder"). The TSX Venture Exchange conditionally approved the private placement on April 29, 2008.

The Company issued 3,568,545 units (each a "Unit") at a price of $0.275 per Unit, of which 3,327,636 Units were sold on a brokered basis by the Finder. Each Unit consists of one common share and three-quarters of one share purchase warrant of the Company. Each whole share purchase warrant will entitle the holder to purchase one common share at a price of $0.45 for a period of two years from the closing date.

In connection with the private placement, the Company paid to the Finder, cash finder's fees of $68,632.49 (representing 7.5% of the gross proceeds of Units sold to persons introduced by the Finder) and finder's warrants entitling the Finder to purchase up to 266,210 Units at an exercise price of $0.275 for a period of two years from the closing date. The Company also paid certain other finders cash finder's fees of $4,968.75 (representing 7.5% of the gross proceeds of Units sold to persons introduced by these finders) on the non-brokered portion of the private placement.

The securities issued under the private placement are subject to a four month hold period expiring on September 10, 2008.

The proceeds from the private placement will be used to fund the Company's operations in India and North America and for working capital purposes.

About Minaean

Minaean International Corp. is an innovator of rapid, efficient building systems using cold formed steel technologies. Currently, Minaean has four systems: the 'Vesta Quik-Build' (patent under process), 'Artisan Quik-Build', 'Modular Quik-Build' and 'Artisan Composite System.'

Minaean provides an all encompassing in-house design, engineering, prefabrication, supply and installation of modular buildings and light gauge steel load bearing wall panels with flooring systems capable of being assembled, delivered and installed within 7 to 10 days. The strong, affordable, ecologically sustainable structures present a promising solution to the mass housing shortages in developing countries and disaster-stricken areas, in addition to a range of conventional applications.

Shares of Minaean International Corporation (parent company) is publicly traded on the TSX Venture Exchange under the symbol "MIB" and on the Berlin and Frankfurt Stock Exchanges under the symbol "NJA."

(No. 2008-05-08)

For more information please visit: www.minaean.com

On behalf of the Board of Directors

MINAEAN INTERNATIONAL CORP.

"Hari Varshney"

Hari Varshney

Chairman

Contact:

Investor Relations

Phone (604) 684-2181

investors@minaean.com

Source: Minaean International Corp. (MIB - TSX-V)

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