IBEX Reports Expected Significant Decrease in Fiscal 2014 Earnings

IBEX Technologies Inc. ("IBEX" or the "Company") (TSX VENTURE:IBT) today reports
a significant decrease in its expected earnings for the fiscal year ending July
31, 2014.


IBEX was recently advised by a major customer of its IBEX Pharmaceuticals
subsidiary that it will significantly cut back its purchases over the next two
years. Although IBEX is not currently in a position to precisely quantify this
reduction in sales, it is expected to have a materially negative impact on the
profitability of IBEX Pharmaceuticals and hence IBEX. 


"One of IBEX Pharmaceuticals' inherent risks has been its reliance on a few
products and a few key customers. The possibility that there might be a short or
long-term change in the needs of one of those customers has always been apparent
to us and was one of the reasons IBEX sought to expand its product line and
customer base via acquisitions, such as the recent acquisition of Bio-Research
Products Inc.", said Paul Baehr, President and CEO of IBEX.


As at the date of its last publicly-filed disclosure (Q3/Fiscal 2013), IBEX
reported cash, cash equivalents & short-term investments of $1,367,333 and
working capital of $2,570,941. IBEX expects that it has sufficient resources to
withstand the impact of this sales reduction throughout Fiscal 2014.


ABOUT IBEX 

IBEX, through its wholly owned subsidiaries IBEX Pharmaceuticals Inc. (Montreal,
QC) and the recently acquired Bio-Research Products Inc. (North Liberty, IA),
manufactures and markets proteins for biomedical use. IBEX Pharmaceuticals 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.


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, as they are based on the current assessment or
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, except if required by applicable laws. 


In addition to the risk factors identified above, IBEX is, and has been in the
past, heavily reliant on three products and five customers, the loss of any of
which could have a material effect on its profitability.


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