SOURCE: IQ Micro

June 05, 2007 14:01 ET

Osmolife Signs Development Agreement With Kongsberg Automotive

To Jointly Develop New Seat Climate Control System for Automotive Industry

WEST PALM BEACH, FL--(Marketwire - June 5, 2007) - IQ Micro Inc. (OTCBB: IQMC), exclusive licensor of electro-osmotic membranes and micro-pumps for the rapidly emerging microfluidic technology sector, announced today that its parent company, Osmolife AS of Norway, has entered into a development agreement with Kongsberg Automotive AB of Sweden, a leading vehicle systems developer and manufacturer. Based on Osmolife's electro-osmotic membrane technology, the companies will jointly develop a new generation of seat climate control products for the automotive sector.

IQ Micro President and CEO, Johnny Christiansen, said, "This development agreement with Kongsberg Automotive creates a unique and substantial business opportunity for both Osmolife and IQ Micro in the worldwide automotive market. Osmolife's patented electro-osmotic membrane technology could play a major role in the next generation of car seat climate control systems. We look forward to the new sales and marketing opportunities the partnership creates."

About Kongsberg Automotive

Kongsberg Automotive operates two divisions, seat comfort and the driveline & chassis division. The company's seat comfort business focuses on seat climate (heating and ventilation), seat support systems, head restraints and armrests. Between its two divisions, Kongsberg Automotive's customer portfolio includes major interior Tier 1s and OEMs, such as: GM, Ford, DaimlerChrysler, Toyota, BMW and Audi.

Kongsberg Automotive has nearly 2,800 employees and annual sales of approximately US $450 million. The company's headquarters are in Kongsberg, Norway, but manufacturing takes place in Norway, Sweden, England, Poland, USA, Mexico, Brazil, Korea and China. The company has sales and research and development centres in Germany and the United States with additional sales offices in France and Japan. For more information, visit www.kongsbergautomotive.com.

About IQ Micro

IQ Micro Inc. (www.iq-micro.com) is an international licensing company that commercializes proprietary technology developed for use in the microfluidics sector. Developed from the micro-chip industry, microfluidics involves circuits of tiny chambers, channels and pumps that direct the flow of liquids on a single micro-chip.

The company is actively pursuing global licensing opportunities for its patented electro-osmotic membrane technology and its "invisible pump," a microfluidic technology with a wide range of consumer, medical and industrial applications. With its proprietary technology and highly experienced management, IQ Micro expects to become a leading global, specialized supplier of low-voltage microfluidic technology.

IQ Micro's recent Osmotex/Lifecare parent company merger is expected to result in an expanded licensing arrangement with IQ Micro, which will include exclusive sales and marketing rights to Lifecare's implantable, osmotic sensor for use in diabetes monitoring.

For investor relations information contact D.P. Martin & Associates, Investor Relations for IQ Micro at: (561) 514-0194 or info@dpmartin.com, or visit: www.dpmartin.com.

This release contains various forward-looking statements 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, which represent the company's expectations or beliefs concerning future events of the company's financial performance. These forward-looking statements are further qualified by important factors that could cause actual results to differ materially from those in the forward-looking statements. The words "may," "could," "should," "believe," "anticipate," "estimate," "expect," "intend," "plan" and similar words are intended to identify forward-looking statements. These factors include the effect of competitive pricing, the company's dependence on the ability of third-party manufacturers to produce components on a basis which is cost-effective to the company, our ability to protect our intellectual property rights from infringement by third parties, our ability to convert our intellectual property rights into product offerings that are accepted by the market, the development of competitors of intellectual property and associated products that are superior to ours or that gain better market acceptance than ours and the ability of our intellectual property rights to keep pace with the advances in technology, market acceptance of the company's products and licensing rights, the effects of government regulation and other factors. Results actually achieved may differ materially from expected results included in these statements. The company is under no obligation to, and expressly disclaims any such obligation to, update or alter its forward-looking statements, whether as a result of new information, future events or otherwise. Furthermore, this company cautions that the risk factors listed in this paragraph are not exhaustive.

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