IBEX Grant of Options

IBEX Technologies Inc. (TSX VENTURE:IBT) today announces the grant of options to
Richard Collin, CPA, CA, its newly appointed Director of Finance. 


In connection with his appointment, Mr. Collin has been granted options to
acquire up to 50,000 common shares of IBEX at an exercise price of $0.08 per
common share for a term of 10 years pursuant to IBEX's incentive stock option
plan. 


ABOUT IBEX 

The Company, through its wholly owned subsidiaries, IBEX Pharmaceuticals Inc.
(Montreal, QC) and Bio-Research Products Inc. (North Liberty, IA), manufactures
and markets enzymes for biomedical use. IBEX also manufactures and markets a
series of arthritis assays which are widely used in osteoarthritis research. 


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

Neither TSX Venture Exchange nor its Regulation Services Provider (as that term
is defined in policies of the TSX Venture Exchange) accepts responsibility for
the adequacy or accuracy of this release.


FOR FURTHER INFORMATION PLEASE CONTACT: 
IBEX Technologies Inc.
Paul Baehr
President & CEO
514-344-4004 x 143
www.ibex.ca