SOURCE: Ikona Gear International, Inc.

February 16, 2006 09:30 ET

Ikona Gear Signs Joint Development Agreement With Global Robotics Company

COQUITLAM, BC -- (MARKET WIRE) -- February 16, 2006 -- Ikona Gear International, Inc. (OTC BB: IKGI), a leader in innovative gearing systems technology, today announced it has entered into a joint development and preliminary licensing agreement with a global robotics company for the design and development of a gearbox for an innovative robotic application based on Ikona's patented gear technology. Under terms of the agreement, Ikona will receive an initial prototype development fee and, once commercialized, Ikona will receive a sliding-scale royalty stream of four to nine percent, based on sales volume. Due to the competitive nature of the robotics industry and strategic nature of the application, a non-disclosure agreement has been signed by both companies.

"We are pleased to announce yet another important milestone. We have entered into a new development agreement in the robotics industry, one of our key target markets. The prototype incorporates our ground breaking gearing technology into an innovative robotics application," said Ikona CEO and president Laith I. Nosh. "After a comprehensive review process, the Ikona Gear system was selected as the gear technology of choice due to its ability to provide the required (high) single-stage ratio with comparably high efficiency and small envelope, all in a plastic gear -- which is lighter and more cost effective than conventional, metal gear solutions. We look forward to working closely with our partner's engineering, manufacturing and marketing teams in moving from the development and prototyping phase to commercial production."

Ikona recently announced a multi-million dollar global licensing agreement with MAGNA Drivetrain AG & Co KG, a wholly owned division of Magna International Inc. The Company also recently announced a development and licensing agreement and order for five satellite base station pedestals valued at roughly $350,000, with a potential to scale up to $3 million in revenue per year. Additionally, Ikona recently announced the launch of a new division, Ikona Industries, focusing on oil and gas exploration applications.

About Ikona Gear International

Ikona Gear is an engineering and low-volume manufacturing, knowledge-based company focused on the design and manufacture of innovative solutions for gearing applications. The company's unique, patented gearing technology platform is ideally suited for demanding situations that involve manipulation of force, torque, and movement. Ikona's intellectual property, a unique gear tooth form that provides for very high gear reduction and very high tooth contact ratio, affords significant advantages over traditional planetary gearing systems including: very high torque, reduced size and weight, zero backlash, accurate back-and-forth actuation, low friction, superior efficiency and low noise. Ikona trades on the Over the Counter market under the symbol "IKGI" and on the Frankfurt Exchange under the symbol "IG2." For more information on Ikona, please visit www.ikonagear.com/.

Safe Harbor Statement under the Private Securities Litigation Reform Act of 1995: This news release contains forward-looking information within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, including statements that include the words "believes," "expects," "anticipate" or similar expressions. Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of the company to differ materially from those expressed or implied by such forward-looking statements. In addition, description of anyone's past success, either financial or strategic, is no guarantee of future success. This news release speaks as of the date first set forth above and the company assumes no responsibility to update the information included herein for events occurring after the date hereof.

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