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MaxLife Fund Corp. announces cancellation of 14,050,000 Common Shares
Date:8/5/2009

NEW JERSEY, Aug. 5 /PRNewswire-FirstCall/ - MaxLife Fund Corp. (OTC:MXFD), have announced that some of its founding shareholders have agreed to cancel a total of 14,050,000 shares of the Company's common stock in order to increase overall shareholder value for the Company.

Bennett Kurtz, Chief Executive Officer of the Company says: "We believe this is a very important step for our Company to increase shareholder value and support future growth. This comes at an exciting opportunistic time, when MaxLife is launching a new and innovative life settlement product (information can be found at www.themxway.com). The early reaction to this product is very positive and should contribute revenues in the near future. We believe that this combination of the reduced shares outstanding and the anticipated bottom line growth should have a positive effect for our shareholders." The Company is currently in negotiations with other shareholders to cancel more shares as well and such shareholders may receive options and/or warrants in the Company in consideration for cancelling their shares.

About MaxLife Fund Corp.: MaxLife Fund Corp. is concentrating on 3 major components of the fast growing Life Settlement sector; (1) to invest and trade policies for our own inventory, (2) to obtain ownership in companies in the life settlement industry and (3) to build a large portfolio by demand for institutional buyers.

The MX-Series Life Settlement product is a new way for investors, hedge funds and pension funds to participate in the sector with secure minimum returns and potential for higher maximum returns. This is a way for such investors to diversify into an alternative asset class.

MaxLife Fund Corp. is positioning itself to grow with the industry and expand its operation to become one of the leaders in the Life Settlement sector.

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SOURCE MaxLife Fund Corp.
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