IP Applications Corp. Receives Final Acceptance on $775,000 Private Placement

    VANCOUVER, July 30 /CNW/ - IP Applications Corp. (TSX-V: IPX) (the
"Company") is pleased to announce that further to the Company's news release
of June 20, 2008, it has received final acceptance from the TSX Venture
Exchange and formally closed its non-brokered private placement of
3,875,000 Units, at a price of $0.20 per Unit, raising gross proceeds of
$775,000. Each Unit consisted of one common share and one-half common share
purchase warrant. Each whole warrant entitles the holder thereof to acquire an
additional common share of the Company at a price of $0.25 for a period of two
years. Additionally, a finder's fee of $35,920 and 199,600 warrants were paid
and issued in connection with offering. All securities issued are subject to a
four-month hold period expiring on November 30, 2008.
    John Jacobson, President and CEO of IP Applications said "This funding
enables us to put an improved user interface and expanded marketing campaign
around our comprehensive and functionally complete SaaS and cloud computing
billing and subscriber management product. IP Applications' years of
experience operating a hosted subscription billing solution enable us to
deliver quickly and build market share in this new market."
    IP Applications' SaaS-billing and subscriber management application is
itself a Software-as-a-Service product that provides a comprehensive suite of
billing, subscriber administration and marketing plan execution support
products for SaaS vendors and cloud computing applications. While the SaaS
market orientation is new, the Company has extensive experience delivering
these online services to current customers including AOL, Bell Mobility and
Amway among others. IP Applications' SaasAutomation.com product saves SaaS
vendors from burdening their product developers with writing business logic
and marketing support functions when they should focus on the SaaS product

    About IP Applications

    The Company delivers business process automation, customer care and
hosting for companies in SaaS and cloud computing, telecom, internet services
and electronic commerce markets. Customers can focus on their product
marketing while IP Applications provides critical billing, administrative and
marketing support capabilities.
    More product information is available on its corporate website
(www.IPApplications.com) and on its product-specific websites
(www.SaaSAutomation.com and www.MyHelpDesk.com).

    Forward-Looking Statements

    This press release contains forward-looking information regarding the
Company's marketing plans. The Company cautions users of this forward-looking
information that actual results or events may vary materially either favorably
or unfavorably from those described due to a number of risks and
uncertainties, including the inability of the Company to accurately forecast
the revenue from new and existing customers, the inability of the Company's
customers to accurately forecast their own need for Company products and
services, changes in the relative value of the US dollar and the Canadian
dollar and the possibility that one or more customers or suppliers might
experience financial difficulties that could affect the Company's ability to
deliver and get paid for its products and services. Please refer to the
Company's management's discussion and analysis ("MD&A") for further discussion
of these and other risks and uncertainties in relation to such forward-looking

    The TSX Venture Exchange does not accept responsibility for the adequacy
    or accuracy of this release.

For further information:

For further information: Richard Topham, CFO, D (604) 630-5657, E

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