IBEX Technologies Inc. (TSX VENTURE:IBT), today announced that on December 19,
2009 the Company's Board of Directors granted stock options representing a total
of 700,000 common shares to its directors and to certain officers and employees.


These options were granted at an exercise price of $0.23, being the closing
price on December 18, 2009, and will expire on December 19, 2019.


All options were granted pursuant to the IBEX Stock Option Plan.

ABOUT IBEX

The Company manufactures and markets a series of proprietary enzymes
(heparinases and chondroitinases) for use in pharmaceutical research by our
customers, as well Heparinase I, which is used in many leading hemostasis
monitoring devices. 


IBEX also manufactures and markets a series of arthritis assays which are widely
used in pharmaceutical research by our customers. These assays are based on the
discovery and increasing role of a number of specific molecular biomarkers
associated with collagen synthesis and degradation. 


For more information, please visit the Company's web site at www.ibex.ca.

The TSX Venture Exchange does not accept responsibility for the adequacy or
accuracy of this release


Safe Harbor Statement

All of the statements contained in this news release, other than statements of
fact that are independently verifiable at the date hereof, are forward-looking
statements. Such statements, based as they are on the current expectations of
management, inherently involve numerous risks and uncertainties, known and
unknown. Some examples of known risks are: the impact of general economic
conditions, general conditions in the pharmaceutical industry, changes in the
regulatory environment in the jurisdictions in which IBEX does business, stock
market volatility, fluctuations in costs, and changes to the competitive
environment due to consolidation or otherwise. Consequently, actual future
results may differ materially from the anticipated results expressed in the
forward-looking statements. IBEX disclaims any intention or obligation to update
these statements.
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