IBEX Technologies Inc. (TSX Venture:IBT), announced today the appointment of
Bernard R. Patriacca, CPA, MBA of Millis, Massachusetts to its Board of
Directors.


Mr. Patriacca, currently an independent financial consultant, most recently
served as Vice President, Chief Financial Officer and Treasurer of MacroChem
Corporation, a US-based publicly-traded specialty pharmaceutical company. He had
previously served as Vice President and Controller of Alcon Summit Autonomous
Inc., also a publicly-traded, US-based company whose business is laser-vision
correction. Before that he was Senior Vice President & Chief Financial Officer
for Dunkin' Donuts Incorporated. Mr. Patriacca began his career as an auditor
with Price Waterhouse & Co. 


Mr. Patriacca received his MBA, Finance/Accounting, and his BS/BA, Accounting
from Northeastern University, Boston, MA. He is a member of the Massachusetts
Society of CPA's.


Paul Baehr, President and CEO and Chairman of IBEX said "We are very pleased to
have Bernie join our Board of Directors. His broad prior financial, audit and
senior executive experience with companies in or related to our business sector
will serve us well as we execute both our near-term and longer term strategic
goals".


About IBEX

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


IBEX also markets a series of arthritis assays which are widely used in
pharmaceutical research. These assays are based on the discovery 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.