Addax Petroleum Announces Toronto Capital Markets Day

CALGARY, Canada, September 9 /PRNewswire/ -- Addax Petroleum Corporation (TSX: AXC and LSE: AXC) ("Addax Petroleum" or the "Corporation") will host a management presentation to financial analysts and investors on Tuesday, September 16, 2008 in Toronto, Canada. The Corporation's senior management team, including Mr. Jean Claude Gandur, President and Chief Executive Officer, Mr. James Pearce, Chief Operating Officer, Mr. Michael Ebsary, Chief Financial Officer, and Mr. Jeff Schrull, General Manager Exploration, will discuss the Corporation's most recent operating results and expectations regarding future operations.

Conference call / webcast details: Date: Tuesday, September 16, 2008 Time: 10:00 a.m. Eastern Time / 3:00 p.m. London, U.K. time To listen to the conference call, please call one of the following: Toronto: 416-644-3414 Toll-free (Canada and the U.S): 1-800-733-7560 Toll-free (U.K.): 00-800-2288-3501 Toll-free (Switzerland): 00-800-2288-3501

A replay of the conference call will be available at (416)640-1917 or (877)289-8525, passcode 21281389 followed by the number sign until Thursday, October 16, 2008.

A live webcast of the presentation will be available via the following link:

http://w.on24.com/r.htm?e=117931&s=1&k=BCE56753F7BA88469EB2E2079E3D1BF1

The Capital Markets Day presentation materials will be available on the Corporation's website at http://www.addaxpetroleum.com.

About Addax Petroleum:

Addax Petroleum is an international oil and gas exploration and production company with a strategic focus on Africa and the Middle East. Addax Petroleum is one of the largest independent oil producers in West Africa and has increased its crude oil production from an average of 8,800 bbl/d for 1998 to an average of approximately 136,000 bbl/d for the first half of 2008. Further information about Addax Petroleum is available at http://www.sedar.com, www.londonstockexchange.com or the Corporation's website, http://www.addaxpetroleum.com.

CONFERENCE CALL / WEBCAST ADVISORY: FORWARD-LOOKING STATEMENTS

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The conference call / webcast may contain forward-looking statements. When used in the call, words such as "anticipate", "expect", "project", and similar expressions are intended to identify such forward-looking statements. Although the Corporation believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of risks and uncertainties pertaining to operating performance, regulatory parameters, economic conditions and commodity prices. While Addax Petroleum makes these forward looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected.

For further information: Mr. Patrick Spollen, Investor Relations, Tel.: +41(0)22-702-95-47, patrick.spollen@addaxpetroleum.com; Mr. Craig Kelly, Investor Relations, Tel.: +41(0)22-702-95-68, craig.kelly@addaxpetroleum.com; Ms. Marie-Gabrielle Cajoly, Press Relations, Tel.: +41(0)22-702-94-44, marie-gabrielle.cajoly@addaxpetroleum.com; Mr. Nick Cowling, Press Relations, Tel.: +1-416-934-8011, nick.cowling@cossette.com; Mr. James Henderson, Press Relations, Tel.: +44(0)20-7743-6673, james.henderson@pelhampr.com; Mr. Alisdair Haythornthwaite, Press Relations, Tel.: +44(0)20-7743-6676, alisdair.haythornthwaite@pelhampr.com

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