IPICO grants options



    BURLINGTON, ON, Jan. 3 /CNW/ - IPICO Inc. (TSX-V: RFD) ("IPICO")
announces the granting of 675,000 options under its Stock Option Plan of which
350,000 were granted to four of its directors and executive officers and
325,000 to six other employees.
    All options are exercisable at a price of $1.64 per common share and 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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IPICO INC.

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