AGREEMENT JOINT FILING OF SCHEDULE 13G The undersigned hereby agree to jointly prepare and file with regulatory authorities a Schedule 13G and any future amendments thereto reporting each of the undersigned's ownership of securities of Panax...

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                                    EXHIBIT A

                                    AGREEMENT 
 
                          JOINT FILING OF SCHEDULE 13G
 

     The  undersigned  hereby agree to jointly  prepare and file with regulatory
authorities a Schedule 13G and any future  amendments  thereto reporting each of
the undersigned's  ownership of securities of Panax Pharmaceutical Corp., Ltd.,
and hereby affirm that such Schedule 13G is being filed on behalf of each of the
undersigned.




                                          X.X. XXXXX & CO., INC.



                                              /s/ Xxxxxx X. Xxxx
Dated:   February 3, 1997                By:________________________________
         New York, New York                 Xxxxxx X. Xxxx
                                            Chairman




 
                                             /s/ Xxxxxx X. Xxxx
Dated:   February 3, 1997                  _________________________________
         New York, New York                 Xxxxxx X. Xxxx