Innovative Composites International Inc.

Innovative Composites International Inc.

January 27, 2010 16:00 ET

ICI and Universal Storage Containers Sign an LOI for the Supply of FRT Panels for Construction of State-Of-The-Art Composite Containers

TORONTO, ONTARIO--(Marketwire - Jan. 27, 2010) - Innovative Composites International Inc. (TSX VENTURE:IC)("ICI" the "Company"), is pleased to announce that it has signed a Letter of Intent ("LOI") with Universal Storage Containers, LLC ("USC") a privately held US company, whereby USC will use ICI's Fiber Reinforced Thermoplastic ("FRT") panels and other composite parts in a newly designed portable container which will be exclusively marketed by USC. Key elements of the Agreement are as follows:

- USC and ICI have jointly developed a state-of-the-art portable container
for storage, moving and other related industries. These containers will
incorporate the innovative FRT panels and other composite materials.
USC will market this product line under the Z2-Box™ name;

- This Z2-Box™ is designed as a green and environmentally friendly
product made of 100% recyclable materials;

- ICI to supply projected annual quantities approximating $8 million based
on market demand and successful ramp up phase; and

- ICI to grant USC exclusive rights for the application of its FRT panels
for all markets that USC serves.

"We are very impressed with ICI's superb engineering capabilities." said Peter Nemiroff, President of USC, "The FRT technology is highly compatible with our suite of products and we look forward to working with Terry Ball and his team in pioneering the next generation of USC container solutions, which we feel will revolutionize the marketplace. USC values ICI's FRT panels and composites as offering unique material and design characteristics which translate into innovative market advantages for our customers."

Over the last six months, USC has conducted extensive market research into what should be the next generation of containers for various industries and concluded that lightweight, environmentally friendly materials is what is needed in the future.

"We are very pleased to have completed this LOI with such an accomplished and respected company as USC. Their forward looking approach to the market fits well with ICI's corporate culture, and we look forward to the rollout of the USC Z2-Box™ utilizing FRT panels and other composites," commented Terry Ball, ICI's Chief Executive Officer. "This strategic relationship represents another successful milestone in the execution of ICI's business strategy of partnering with established players in our target markets."

About Universal Storage Containers, LLC.

USC, ( a privately held US company headquartered in New Canaan, Connecticut, is a worldwide leader in Portable Container Solutions, with offices in New York, Beijing, Denver and Atlanta. USC offers a number of innovative foldable storage container solutions to various industries, which provide cost savings that allow their customers to gain a competitive edge in their industries.

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 is currently focused in two areas: Fibre Reinforced Thermoplastic panels, a unique line of application-ready structural composite panels and Hero 451, an environmentally friendly fire inhibitor and suppressant. 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 its target industries as it considers it to be the fastest way to bring products to market. ICI's customized solutions are intended to provide partners with competitive advantages over their competitors.

To find out more about Innovative Composites International Inc. (TSX VENTURE:IC), please visit our website at

"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."

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.

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