IPL Inc.

IPL Inc.

October 17, 2006 09:00 ET

IPL Awarded a $7 Million Contract by Quebec City

SAINT-DAMIEN, QUEBEC--(CCNMatthews - Oct. 17, 2006) - IPL Inc. (TSX:IPI.A), one of North America's leading manufacturers of plastic products, announced today that Quebec City has awarded the Company a contract estimated at $7 million for the supply, assembly and delivery of 110,700 wheeled carts for recycling. Delivery of units will begin in November 2006 and continue over a 12-month period.

The 360-litre capacity wheeled carts will be shipped to the customer in four successive stages as follows: 34,700 units to the boroughs of Laurentien and Charlesbourg in November and December 2006; 33,000 units to the boroughs of Beauport and De La Haute-Saint-Charles in April, May and June 2007; 18,000 units to the borough of Sainte-Foy-Sillery in July; and finally, 25,000 units to the boroughs of Les Rivieres, La Cite and Limoilou in September, October and November 2007.

"We are very proud to have won this first major contract for Quebec City," said Serge Bragdon, President and Chief Executive Officer of IPL. "IPL was one of four bidders that met the customer's technical specifications, and was selected based on the excellence of its product and its competitive pricing. This contract strengthens IPL's position as a partner of choice in the high potential waste handling sector."

About IPL

IPL Inc. is one of the leading North American producers of moulded plastic products through injection and extrusion for different industrial manufacturing sectors. IPL employs more than 1,000 people in its four plants located in Saint-Damien, Saint-Lazare and Lawrenceville (Quebec), and Edmundston (New Brunswick). The Company manufactures and markets over 400 products for packaging and materials handling. IPL also provides highly technical value-added custom moulding services for the automotive and transport industries, as well as for various industrial uses. Further information about IPL is available at www.ipl-plastics.com.

Forward Looking Statements

With the exception of historical information, this press release may contain declarations of a speculative nature with regard to the Company's future performance. These are made based on assumptions, uncertainties and management's best estimates with regard to future events, and are subject to certain risks factors. Such factors might include, but are not limited to, fluctuations in quarterly results, changes in customer demand for the Company's services and the impact of competitive price pressures, as well as general market trends and changing economics. Consequently, readers are advised that actual results may be different than expected results.

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