IPICO confirms option grant to new RFID VP



    BURLINGTON, ON, Nov. 12 /CNW/ - IPICO Inc. (TSX-V: RFD) ("IPICO")
announced that Mr. John Greaves has joined the Company as Vice President. Mr.
Greaves most recently was Vice President Global RFID Group for NCR Corporation
and prior to this was a Director in Deloitte Touche's Global Technology
Integration practice and Director of Global RFID Solutions for CHEP
International. Mr. Greaves brings a wealth of experience in the global RFID
industry and will focus on the identification and communication of
opportunities for IPICO's range of RFID products and solutions to customers
and partners, along with media, conferences and the user community. Mr.
Greaves will also continue to serve as a Director of the European Centre for
Automatic Identification and Data Capture (AIDC) technologies.
    Mr. Gordon Westwater, President of IPICO stated "John Greaves' extensive
experience including numerous successful implementations in the RFID industry
further strengthens IPICO's management team and will support the continued
successful commercialization of IPICO's RFID products and solutions."
    IPICO has granted Mr. Greaves 100,000 options to purchase common shares
of the Company at an exercise price of $1.40. The options vest in three equal
instalments over three years and have a five year term.

    ABOUT IPICO Inc.

    IPICO Inc. is an RFID solution supplier with operations in Canada, USA,
South Africa, Europe, Asia and Australia. IPICO produces smart labels, tags
and readers based on the IP-X communication protocol. Its products are
designed to conform to regulatory requirements in most major geographical
regions, to excel at long read range, fast multi-read anti-collision and high
thru-beam read-speeds of dynamic tag populations, and to allow for
multi-reader rollout in close proximity. IPICO's products are used to optimize
the management of products, equipment, people, animals and processes within
the logistics and other value chains. For further information, go to
www.ipico.com.

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

    %SEDAR: 00023515E




For further information:

For further information: Gordon Westwater, President, IPICO Inc., Tel:
(905) 631-6310, Email: gordon.westwater@ipico.com; Hilary Bassett, MAVERICK
for IPICO Inc., Tel: (416) 640-5525, Email: hilaryb@maverickpr.com

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