April 23, 2007 09:35 ET

IBEX CEO to Present Transition Plan at BioFinance 2007 in Toronto

MONTREAL, QUEBEC--(CCNMatthews - April 23, 2007) - IBEX Technologies Inc. (TSX:IBT), announced today that Paul Baehr, President and CEO, will give a corporate review and provide an update on its transition to becoming a specialty pharmaceutical company at the BioFinance 2007 conference on Wednesday, April 25th, 2007, at 10:30 a.m. EDT, in room Trinity II of the Toronto Marriott Eaton Centre. A copy of the presentation will be available at www.ibex.ca following the presentation.

About IBEX

IBEX is transforming itself from a research and development company to a specialty pharmaceutical company with marketed products serving the arthritis and women's health markets. To that end, on January 30, 2007, the Company announced the signing of a Share Purchase Agreement with Garvinci Inc., a private-held Canadian company with Canadian distribution rights for a pipeline of arthritis and women's health products.

Garvinci's principal assets are the Canadian distribution rights to a line of arthritis products produced by the Swiss firm TRB Chemedica, and the Canadian distribution rights to NorLevo® from the French company, Laboratoire HRA Pharma.

NorLevo®, a morning-after emergency contraceptive pill has recently been approved and is expected to be introduced in the second half of 2007 through one of Canada's leading pharmaceutical companies.

The closing of the transaction with Garvinci is subject to regulatory approval, including that of the Toronto Stock Exchange, shareholder approval, and the satisfaction of certain conditions by Garvinci. IBEX expects that the shareholders' circular will be mailed at the beginning of May.

IBEX's arthritis program is based on the discovery of a number of specific molecular biomarkers associated with collagen synthesis and degradation. These discoveries have led to the development of proprietary research tools and diagnostic tests which are being used by major pharmaceutical companies in the search for new drugs and which are being developed by IBEX for use in patient management.

IBEX currently markets a series of arthritis assays which are widely used in the pharmaceutical research market. The Company also markets a series of proprietary enzymes (heparinases and chondroitinases) for research use, as well Heparinase I which is used in many leading hemostasis monitoring devices. For more information, please visit the Company's web site at www.ibex.ca.

Safe Harbor Statement

All of the statements contained in this news release, other than statements of fact that are independently verifiable at the date hereof, are forward-looking statements. Such statements, based as they are on the current expectations of management, inherently involve numerous risks and uncertainties, known and unknown. Some examples of known risks are: the impact of general economic conditions, general conditions in the pharmaceutical industry, changes in the regulatory environment in the jurisdictions in which IBEX does business, stock market volatility, fluctuations in costs, and changes to the competitive environment due to consolidation or otherwise. Consequently, actual future results may differ materially from the anticipated results expressed in the forward-looking statements. IBEX disclaims any intention or obligation to update these statements.

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