SOURCE: Industrial Biotechnology Corp

October 31, 2006 13:27 ET

Industrial Biotechnology Corporation's Chief Technologist Selected as Lead Speaker, Session Chair and Keynote Lecturer at AsianBio 2006

SARASOTA, FL -- (MARKET WIRE) -- October 31, 2006 --Industrial Biotechnology Corporation (PINKSHEETS: IBTY) (IBC), a company dedicated to new biotechnologies and innovations in the chemical industry, today announced that Gurinder Shahi, IBC's Chief Technologist and Scientific Advisory Board Chairman, has been selected to as a Lead Speaker, Session Chair and Keynote Lecturer at AsianBio 2006, the Third Asian Biotechnology Conference.

During the 2-day conference taking place in Manila on November 9-10, Dr. Shahi will be the lead speaker "Enabling Policy" and provide the keynote lecture on "Potentials & Constraints in Biomedical Biotechnology in Developing Countries." In addition to role at IBC, Dr. Shahi is also Chairman of BioEnterprise Asia and Director of the BioBusiness Initiative.

About AsianBio 2006 and the Third Asian Biotechnology Conference

The Third Asian Biotechnology Conference is intended to be a venue where major stakeholders, such as the government, academia, media as well as the international community, can converge, discuss issues, and establish linkages. It is envisioned to provide a forum for said stakeholders and other interest groups to formulate strategies that would enable developing countries to use biotechnology as an engine for growth and economic development.

www.bcp.org.ph/asianbio2006/index.htm

About Industrial Biotechnology Corporation

Industrial Biotechnology Corporation (IBC) enables the biological production of chemicals through a combination of licensed patents, intellectual property and proprietary systems. We accomplish this through our ALCHEMx Productions Platforms™ which are a systematic, streamlined approach to biologically manufacture chemicals more efficiently, at significantly lower costs, and with substantially lower environmental impact than traditional methods. IBC and its partners plan to produce and market new and established biologically produced chemicals to the pharmaceutical, bio-energy, agricultural, biopesticides, fine chemicals, flavors and fragrances, cosmeceuticals, biomaterials and biopolymer industries. For more information about Industrial Biotechnology Corporation, please visit its website at www.industrialbiotechnology.com.

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Industrial Biotechnology Corporation's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Industrial Biotechnology Corporation, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Industrial Biotechnology Corporation believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Industrial Biotechnology Corporation does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.

Contact Information

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    Industrial Biotechnology Corporation
    2033 Main Street
    Sarasota, FL 34237
    941-925-2500
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