IPICO Inc. announces departure of CFO

    BURLINGTON, ON, March 7 /CNW/ - IPICO Inc. (TSX-V:RFD) has announced
today the departure of their Chief Financial Officer, Ms. Stephanie Ratza, CA.
Ms. Ratza has resigned her position as chief financial officer, effective
March 31, 2007 to pursue other interests. She will remain an employee of the
Company through March 31, 2007, and will continue in a transitionary capacity
during the months of April and May. The resignation is unrelated to her work
performed at IPICO Inc. and no issues have been raised regarding the integrity
of the Company's financial statements or systems of internal control.
    "We appreciate her contributions to-date and the exceptional effort that
she has put into the Company," says Mel Steinke, Executive Chairman.
    "I have enjoyed the opportunity at IPICO and wish the Company much
success," says Stephanie Ratza.
    A search has been commenced by the Company.

    ABOUT IPICO INC.: IPICO is an RFID solution supplier with operations in
Canada, USA, France, South Africa, China and Australia. IPICO produces smart
labels and tags based on the IP-X(TM) air protocol. IPICO's low interference
readers comply with regulatory requirements in major geographical regions, and
allow for multi-reader rollout in close proximity. The IPICO DIMI(TM)
middleware platform manages applications inlarge-scale, distributed systems,
and allows for effective device management, data switching and data security.
IPICO's low cost RFID products excel at long read range, fast multi-read
anti-collision and high thru-beam read-speeds of dynamic tag populations.
These products are used to optimize the management of items, people, animals
and processes within the logistic supply chain and other values chains. For
further information, go to www.ipico.com

    Cautionary Statements:

    The TSX Venture Exchange has in no way has neither approved nor
    disapproved the contents of this press release.

    %SEDAR: 00023515E

For further information:

For further information: Gordon Westwater, President, IPICO Inc., (905)
631-6310 ext 361, gordon.westwater@ipico.com

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