IPICO appoints new Chief Financial Officer



    BURLINGTON, ON, April 11 /CNW/ - IPICO Inc. (TSX-V: RFD) today announced
that Edward R. (Ted) Irwin has joined the Company as Chief Financial Officer.
Most recently Mr. Irwin was Chief Financial Officer for Marsulex Inc., a
TSX-listed Canadian company. Over a period of five years, he led that
company's finance and information systems teams through a period of strong
growth and a number of acquisitions. Mr. Irwin's public company and investor
relations experience also includes two years as Chief Financial Officer of a
publicly traded technology company. Mr. Irwin spent six years with an
international public accounting firm where he earned his CA designation,
followed by ten years with a large packaged goods manufacturer and distributor
where he held progressive senior management positions including Controller,
Director Business Information Systems and Director Distribution and Logistics.
    In welcoming Mr. Irwin to the senior management team at IPICO, Gord
Westwater, President said: "In addition to Ted's proven track record in public
company financial reporting, corporate governance and investor relations, his
direct experience in information technology, distribution and logistics will
further strengthen IPICO's management team as it continues to meet the global
demand for its leading RFID technology."
    Pursuant to the terms of Mr. Irwin's employment IPICO has agreed to make
two option grants under the Company's Employee Stock Option Plan, both grants
at an exercise price equal to the last closing market price on the date of
grant. The first grant is 250,000 common shares vesting in three equal
instalments over three years, and the second grant is 50,000 common shares
with vesting contingent upon the successful attainment of certain targets.

    About IPICO Inc.

    IPICO is an RFID and global visible commerce supply-chain solution
supplier with operations in Canada, USA, France, South Africa, China and
Australia. IPICO produces smart labels and tags based on the IP-X(TM) air
protocol. IPICO's low interference readers comply with regulatory requirements
in major geographical regions, and allow for multi-reader rollout in close
proximity. The IPICO DIMI(TM) middleware platform manages applications in
large-scale, distributed systems, and allows for effective device management,
data switching and data security. IPICO's low cost RFID products excel at long
read range, fast multi-read anti-collision and high thru-beam read-speeds of
dynamic tag populations. These products are used to optimize the management of
items, people, animals and processes within the logistic supply chain and
other values chains.

    This news release contains certain forward-looking statements pertaining
to future anticipated projected plans, performance and developments, as well
as other statements relating to future operations and results. Any statements
in this news release that are not statements of historical fact may be
considered to be forward-looking statements. Written words such as "may,"
"will," "expect," "believe," "anticipate," "estimate," "intends," "goal,"
"objective," "seek," "attempt," or variations of these or similar words,
identify forward-looking statements. These statements by their nature are
estimates of future results only. There can be no assurance that actual
results will not differ materially from expectations. Actual results could
differ materially from those contained in the forward-looking statements and
are based on current expectations that involve a number of risks and
uncertainties which are detailed from time to time in IPICO's periodic reports
filed on SEDAR (www.sedar.com).

    THE TSX VENTURE EXCHANGE HAS NOT REVIEWED AND DOES NOT ACCEPT
    RESPONSIBILITY FOR THE ADEQUACY OR ACCURACY OF THIS RELEASE.

    %SEDAR: 00023515E




For further information:

For further information: IPICO Inc., Gordon Westwater, President, (905)
631-6310 ext 361, Email: gordon.westwater@ipico.com, Website: www.ipico.com

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