Innovative Composites Provides Business Update

    
    -   Ramp-up of composite container manufacturing expected to start in the
        fall
    -   Lead-in purchase orders received from several new customers
    -   Several large scale housing projects under development
    

TORONTO, Sept. 14 /CNW/ - Innovative Composites International Inc. (IC:TSX-V) ("ICI" the "Company"), has been steadily advancing its business plan and is pleased to provide an update on sales initiatives as follows:

    
    Transportation Industry
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Composite Containers

As previously reported Universal Containers International ("USC") has placed the first purchase order for 20 composite containers to be utilized as demos for USC's strategic customers. ICI has built several containers and USC has presented them to their customers with overwhelming success. Based on customer feedback, USC has asked ICI to modify the balance of the first order to include customer specific features that should be finalized by the end of September. Once the first order is completed, USC expects to place significantly larger follow up orders that will mark the start of the ramp phase for full commercial production. USC projects sales volumes for the first 12 months after the start of ramp up at approximately $4 million, going to about $8 million annually once ramp up is completed.

Automotive Aftermarket

ICI has received the first purchase order for StructureLite(TM) panels from a new client in automotive aftermarket. According to the provided launch schedule, annual sales to this customer should ramp up to about $1.2 million in the next 12 months.

Equine Trailers

ICI has received the first purchase order for panels from one of the premier manufacturers of livestock trailers in North America. The first horse trailer built utilizing ICI panels will be featured at a trade show in October, based on customer feedback ICI expects to receive follow up purchase orders by the end of 2010.

    
    Construction and Affordable Housing
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Pedestrian Bridges

ICI has manufactured and shipped a 100 feet long and 7 feet wide composite pedestrian bridge ordered by Engineered Plastics Inc. (EPI). The pedestrian bridge is part of the reconstruction of the Chicago area transit system. Utilization of StructureLite(TM) panels provides the bridge system with a superior strength-to-weight ratio, quick installation, inherent corrosion-resistance and eliminates ongoing maintenance concerns from moisture, salt air and termites. Installation of the structure is scheduled for late September, pictures of the bridge will be posted on the ICI website. According to EPI, there are several other pedestrian bridge orders in the pipeline following the successful completion of the current project.

Haiti - Building Back Better Communities initiative

ICI, together with its consortium partners 3D Global Solutions and Barclays Gedi Group, was named one of the winners of the first stage of the Building Back Better Communities housing competition for Haiti.

According to the government of Haiti and project organizers, an estimated $4 billion will be spent to re-build the damaged housing and the contracts will be divided up between the finalists of the competition. Contracts are expected to be awarded by the government of Haiti in early 2011, based on the results of the Housing Expo that will take place in late fall.

Other affordable housing projects

ICI is in talks to participate in several other affordable housing projects on several continents. Its patent protected design has received praise from the construction industry professionals for energy efficiency, speed of assembly, durability and versatility.

"We have been firing on all cylinders and although it might seem that we are taking on many different projects I would like to remind everyone that all of the panels from automotive aftermarket to housing are manufactured on the same equipment by simply adjusting specific parameters." said Terry Ball, ICI's Chief Executive Officer. "In every industry we enter, we have a partner that knows specifics of the market and helps us to launch products. We are now starting to get traction and are looking to continuously increase revenue as our products gain market acceptance."

About Innovative Composites International Inc.

Headquartered in Toronto, Canada, ICI is a high-tech engineering and manufacturing company established in 2007 by a group of entrepreneurs with a successful track record in commercializing advanced materials.

The Company currently has three product lines: StructureLite(TM) panels for applications in the construction and transportation industry, ECOSCAPE affordable housing products and Hero 451(TM) environmentally friendly fire inhibitors and suppressants. ICI's goal is to deliver products that exceed industry standards with greater durability, strength, flexibility and safety.

ICI is partnering directly with leaders in their target industries to accelerate the rollout of its products across several markets. ICI's customized solutions are intended to provide partners with material advantages over their competitors.

To find out more about Innovative Composites International Inc. (IC: TSX-V), please visit our website at http://www.innovativecompositesinc.com

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

"Statements made in this press release include forward-looking statements that involve a number of risks and uncertainties. These statements relate to future events or future performance and reflect management's current expectations and assumptions. A number of factors could cause actual events, performance or results to differ materially from the events, performance and results discussed in the forward-looking statements, such as the economy, generally, competition in its target markets, the demand for ICI's products and the availability of funding. These forward-looking statements are made as of the date hereof and ICI does not assume any obligation to update or revise them to reflect new events or circumstances. Actual events or results could differ materially from ICI's expectations and projections."

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For further information: Ilja Troitschanski, Chief Financial Officer, [phone], [email protected]; Scott Koyich, President, Brisco Capital Partners Corp, [phone], [email protected]; or, Graeme Dick, Brisco Capital Partners Corp, [phone], [email protected]