IPICO enters Global Mining Industry through exclusive agreement with Becker Mining Systems



    Becker to Integrate IPICO's Passive RFID Technology Into its
    Global Mining Solutions

    BURLINGTON, ON, Feb. 27 /CNW/ - IPICO Inc. (TSX-V: RFD) today announced
it has entered into an agreement with Becker Mining Systems Gmbh ("Becker")
for the exclusive distribution of IPICO products in the global mining
industry. Becker is a global leader in tracking, communication and automation
solutions for underground mining. As part of this agreement, German-based
Becker will incorporate IPICO RFID products into their mining solutions and
resell them to the international mining industry. To maintain exclusivity, the
agreement requires minimum aggregate revenues to IPICO Inc. of approximately
$11.5 million over the first five years.
    Recently passed regulations have made the tracking of all people and
assets compulsory in underground mining operations in the U.S.A. and other
developed economies. Likewise, safety issues in the growing Chinese and Indian
mining industries are gaining prominence as their booming economies increase
demands for raw materials.
    By incorporating IPICO's passive RFID technology to extend Becker's
existing range of active RFID based systems, Becker will be able to offer more
advanced technology solutions in the areas of safety, traceability and
productivity - applications that have become crucial to the advancement and
future profitability of the mining industry.
    "Over the past decade we have become a global leader in active RFID based
tracking solutions in mines," remarked Max Brinckman, Becker's Global
Marketing and Sales Director. "Adding the IPICO passive RFID portfolio will
provide us with a world-beating combination that is suited to solve any
tracking application in the most difficult of underground scenarios."
    Becker's sales force and network of resellers covers both developed and
developing economies, enabling the newly formed partnership to gain market
share across the globe, ranging from very automated to much less sophisticated
mining operations.
    In addition to safety applications, Becker plans to deploy these combined
solutions to improve underground productivity to help manage the horizontal
transportation of ore, which has long been identified as a serious bottleneck
for many underground mining operations. Combining active and passive RFID
technologies will allow the optimization of underground transport operations
from both a safety and productivity perspective, issues which have too often
been viewed as mutually exclusive objectives.
    "The new relationship with Becker supports IPICO's ongoing strategy to
partner with market leaders in key industries," said Gordon Westwater,
President, IPICO, Inc. "Becker is helping us to significantly increase the
global market for our unique product range in a growing industry sector that
has a clear need. This is a further demonstration of the competitive advantage
provided by IPICO's technology in complex and extreme working conditions."

    About IPICO Inc.

    IPICO Inc. is an RFID solution supplier with operations in Canada, United
States, 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.

    ABOUT Becker Mining Systems Gmbh.

    Becker Mining Systems provide solutions for automation and communication,
energy distribution, as well as man and material haulage in underground
mining. Becker Mining Systems uses decade-long experience, new ideas, and
state-of-the-art technology to make the mining of raw materials more efficient
and safer, and has over 1300 employees world-wide with locations in Australia,
Canada, China, France, Germany, Poland, Russia and South Africa. For further
information, go to www.becker-mining.com.

    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, including,
without limitation, statements as to markets, sales forecasts and required
minimum future revenues. 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",
"suggest" or variations of these or similar words, identify forward-looking
statements. These statements by their nature are estimates of future results
only. Actual results could differ materially from those contained in the
forward-looking statements and are based on current expectations that involve
substantial risks and uncertainties, including but not limited to the failure
to meet market growth, design specifications, order volume, delivery
commitment or minimum revenue expectations, political intervention, and those
other risks and uncertainties detailed from time to time in IPICO's periodic
reports filed on SEDAR (www.sedar.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: IPICO Inc., Gordon Westwater, President, Tel:
(905) 631-6310, E-mail: gordon.westwater@ipico.com; Becker Mining Systems, Max
Brinckman, Tel: +27 (83) 297 9479, E-mail: m.brinckman@becker-mining.com

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