IBC Advanced Alloys Corp.

IBC Advanced Alloys Corp.

May 12, 2008 09:40 ET

International Beryllium Corporation Closes Acquisition of Freedom Alloys, Inc.

VANCOUVER, BRITISH COLUMBIA--(Marketwire - May 12, 2008) - International Beryllium Corporation (TSX VENTURE:IB) ("IBC" or the "Company") is pleased to announce that it has successfully closed the acquisition of Freedom Alloys, Inc. ("Freedom"), a Pennsylvania-based beryllium manufacturing company.

This transaction is further to the Company's news release dated March 5, 2008, which announced the signing of a share purchase agreement (the "Agreement") to acquire Freedom. Pursuant to the Agreement, IB paid US$10,000,000 made up of US$9,034,441 in cash and 1,693,963 common shares (the "IBC Shares") with a deemed value of US$0.57 per share. The IBC Shares are subject to a hold period which expires on September 10, 2008.

"We are very pleased to have successfully completed the acquisition of Freedom Alloys," stated Anthony Dutton, President and CEO of International Beryllium. "We have already forged an excellent working relationship with their senior management and whole team. Freedom Alloys is a profitable and growing company with a strong and expanding position in the global beryllium market," continued Dutton, "and is a cornerstone of IBC's core strategy of vertical integration and consolidation in the beryllium market. We look forward to working together to evaluate future acquisition and growth opportunities as we build the IBC/Freedom brand across the market."

"The acquisition of Freedom by IBC represents an important milestone for our company as we join forces with a shared vision and strategy for growth and expansion in the global beryllium and related alloys market," said Michael Fisher, CEO and Founder of Freedom Alloys. "We believe Freedom's experience and deep understanding of the beryllium market will make a significant contribution to the excellent potential of our combined company," continued Fisher, "and we are very excited by the growth opportunities we have already identified in the short time we have been working with International Beryllium."

This acquisition was approved by the TSX Venture Exchange ("TSX-V") on May 6, 2008.

This news release was prepared by management of IBC, which takes full responsibility for its contents.

About International Beryllium Corporation

International Beryllium Corporation is a global exploration and development company focused on beryllium, beryllium oxides and beryllium master alloys. Beryllium and related alloys are used in a broad range of specialized industrial applications such as nuclear power, defence, electronics and automotive. International Beryllium's common shares are traded on the TSX Venture Exchange under the symbol IB.

Legal Notice Regarding Forward Looking Statements

This news release contains "forward-looking statements", as that term is defined in Section 27A of the United States Securities Act of 1933, as amended, and Section 21E of the United States Securities Exchange Act of 1934, as amended. Statements in this news release which are not purely historical are forward-looking statements and include any statements regarding beliefs, plans, expectations or intentions regarding the future. Such forward-looking statements include, among others, the expectations and/or claims, as applicable, that: (i) IBC and Freedom will grow into a strong vertically integrated international beryllium company (ii) IBC is looking forward to a successful integration and growth in market share and shareholder value for IBC; and (iii) IBC plans to pursue of additional downstream acquisition opportunities and expand its manufacturing and marketing footprint in both North American and international markets.

Actual results could differ from those projected in any forward-looking statements due to numerous factors. Such factors include, among others: (i) the risk that IBC does not execute its business plan; (ii) the inability of IBC to keep pace with market requirements; (iii) the Company's inability to maintain key relationships with suppliers and customers; (iv) the Company not being able to retain key employees; (v) competitors providing better or cheaper products; (vi) markets for the Company's products not developing as expected; (vii) the Company's inability to finance its operations or growth; (viii) inability to obtain all necessary government and regulatory approvals; and (ix) the inability to effectively market the Company's products, including the establishment of viable relationships with third parties; (x) fluctuating beryllium prices may negatively impact IBC's business plans and strategies. These forward-looking statements are made as of the date of this news release and the Company assumes no obligation to update the forward-looking statements, or to update the reasons why actual results could differ from those projected in the forward-looking statements. Although the Company believes that the beliefs, plans, expectations and intentions contained in this press release are reasonable, there can be no assurance those beliefs, plans, expectations, or intentions will prove to be accurate.

The TSX-V has not reviewed and does not accept responsibility for the adequacy or accuracy of this news release.

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