Innicor announces the grant of stock options

    CALGARY, June 28 /CNW/ - Innicor Subsurface Technologies Inc. ("Innicor"
or the "Company") (TSX : IST) announced today that it has granted stock
options to one director of Innicor to purchase an aggregate of 50,000 common
shares of Innicor at a price of $1.82 per share and with an expiry date of
June 28, 2012. The aforementioned stock options vest as to one third on each
of the first, second and third anniversaries of the date of grant.

    Innicor is a manufacturing centered supplier of products and services
used in the completion and production phase of oil and gas wells. The
Company's products are sold in Canadian, U.S. and other international markets.
Innicor's management plans to continue to expand through increased market
share in both the Canadian and international markets and through
diversification of product lines. As in the past, the Company will continue to
acquire companies, product lines or other assets that are complementary to its
business plan.

    THE TSX HAS NEITHER APPROVED NOR DISAPPROVED THE CONTENTS OF THIS NEWS
    RELEASE.

For further information:

For further information: regarding Innicor, please contact: Delton
Campbell, CEO and President, (403) 236-2815, e-mail - dcampbell@innicor.com;
Bob Jones, COO and Vice President, (403) 236-2815, e-mail -
bjones@innicor.com; Ian Bootle, CFO, (403) 236-2815, e-mail -
ibootle@innicor.com