TORONTO, ONTARIO -- (MARKET WIRE) -- 05/30/06 -- Teaming to provide first globally visible explosives monitoring and tracking system

IPICO Inc., (TSX VENTURE: RFD) an emerging company in RFID technology applications, today announced an Alliance and Development Agreement with ExploTrack, LLC., a growing global leader in explosives security, to enable the world's first real-time global tracking and monitoring of explosives.

Utilizing IPICO's proprietary Dual Frequency IP-X(TM) RFID technology platform as part of the solution, ExploTrack plans to implement the world's first explosives security system to provide real-time visibility anywhere in the world. This closed-loop, end-to-end application securely tracks and monitors explosives and detonators from manufacture and storage throughout the supply chain, including when transported by land and sea. Primarily for use in mining, quarrying and construction environments, this unique RFID enabled application provides detection, monitoring, tracking and identification of explosive materials for a secure global explosives chain-of-custody solution.

According to the US Geological Survey Report, in 2004 (the last reported year), US explosives production was 2.52 million metric tons, a 10% increase from 2003. Governments and security forces, struggling to combat terrorism, face the daunting task of monitoring and tracking these materials and devices, particularly as they are transported around the world.

"Real-time globally visible explosives security is one of the best defenses against terrorists who misuse explosives to manufacture bombs," said Bob Morhard, Managing Partner, ExploTrack, LLC. "With this unprecedented end-to-end solution, we are embarking on an age in which Smart Explosives and Smart Detonators and their chain-of-custody are visible in real-time any place on the earth."

ExploTrack is the inventor of Smart Explosives(TM) and Smart Detonators(TM), which are transported in Smart Cases(TM) and secured in a Smart Magazines(TM). ExploTrack breakthrough technologies also include explosives detection and real-time forensic identification of explosives materials at bomb scenes.

As a global RFID developer and manufacturer, IPICO's RFID and authentication technologies support a broad range of applications involving Transportation and Logistics, Asset and People Tracking, and Supply Chain Management. Much of IPICO's strength is based on the company's patented RFID technology platform, which operates in a range of hostile, real-world environments where other RFID technologies repeatedly fail.

For an explosives RFID application to be effective, it needs to be accurate, safe and secure, as well as cost effective to provide clear chain-of-custody and authentication in extremely fast-paced, dynamic environments, with large volumes of explosives moving throughout the global supply-chain.

Notes Dr. Alwyn Hoffman, Executive Vice-President, IPICO, Inc., "We all recognize the vital importance of providing a secure and efficient means of tracking explosives shipments, as they move through normal commerce throughout the world. IPICO's Dual Frequency RFID solution, as well as our patented authentication technologies, meets these stringent requirements. By combining IPICO's strengths and unique RFID solutions with ExploTrack's track record as an explosives technical services provider to the multinational industrial explosives manufacturing industry, we are now in a position to ensure the rapid deployment of explosives security systems throughout the world."

The agreement provides that ExploTrack will organize a pilot project that will result in product and services (system integration) order for IPICO. Once the system is proved to work in the real world, IPICO and ExploTrack will establish a joint venture to roll out the solution to global explosives manufacturers. For its part, IPICO will be the exclusive supplier of all RFID based products and all related integration services.

About IPICO, Inc. IPICO is an RFID and global visible commerce supply-chain solution supplier with operations in the USA, South Africa, Europe, Asia and Australia. IPICO produces smart labels and tags based on the IP-X(TM) communication protocol. IPICO's low interference readers comply with regulatory requirements in major geographical regions, and allow for multi-reader rollout in close proximity. The IPICO DIMI(TM) middleware platform manages applications in large-scale, distributed systems, while the DIMI(TM) data and connectivity architecture allows for effective device management, data switching and data security. IPICO's low cost RFID products excel at long read range, fast multi-read anti-collision and high thru-beam read-speeds of dynamic tag populations. Beyond explosives materials, these products are used to optimize the management of items, people, animals and processes within the logistic supply chain and other values chains.

About ExploTrack, LLC. ExploTrack, LLC. provides real-time explosives security and inventory control by monitoring and tracking explosives and detonators from production through logistics, storage and use throughout the global explosives supply-chain. ExploTrack, LLC grew from Zukovich, Morhard & Wade, LLC, an engineering firm that specializes in projects involving explosives, propellants and pyrotechnics with extensive experiences in explosives and detonator manufacturing in the US and in more than 70 countries worldwide. ExploTrack offers RFID ePedigree tracking and monitoring of Smart Explosives(TM), Smart Detonators(TM), Smart Cases(TM), Smart Magazines(TM) with Mag-Track(TM) at the pallet, case and unit level. ExploTrack provides unprecedented global explosives security technologies, which include real-time monitoring of light, heat, motion, movement, and noise conditions inside Smart Magazines(TM), and aboard smart trucks and smart ocean containers. Software and communications are built with the best available data security encryption possible. ExploTrack Smart Magazines(TM) with Mag-Track(TM) include edgeware access control devices to collect biometric data, PIN data and access Smart Cards, which track all personnel having access to explosives. Explosives security is enhanced by RFID interrogation platforms at the pallet, case and unit level during logistics functioning for real-time explosives security and also GPS "GEO-FENCING" of critical infrastructure. PATENTS AND TRADEMARKS PENDING: Smart Explosive(TM), Smart Detonator(TM), Smart Case(TM), Smart Magazine(TM), Mag-Track(TM), ExploTrack(TM), ExploTrack RFID(TM) , ExploTrack logo and the ExploTrack technology are the subject of USA and Foreign Patent and Trademark applications filed by ExploTrack, LLC.

IPICO Inc.                       http://www.ipico.comsales@ipico.com
ExploTrack, LLC.                 http://www.explotrack.cominfo@explotrack.com
Zukovich, Morhard & Wade, LLC    http://www.exploenergy.cominfo@exploenergy.com

1.   http://minerals.usgs.gov/minerals/pubs/commodity/explosives/

This news release contains certain forward-looking statements pertaining to future anticipated projected plans, performance and developments, as well as other statements relating to future operations and results. Any statements in this news release that are not statements of historical fact may be considered to be forward-looking statements. Written words such as "may," "will," "expect," "believe," "anticipate," "estimate," "intends," "goal," "objective," "seek," "attempt," or variations of these or similar words, identify forward-looking statements. These statements by their nature are estimates of future results only and involve substantial risks and uncertainties, including those detailed from time to time. There can be no assurance that actual results will not differ materially from expectations.

Contacts:
IPICO Inc.
Dr. Alwyn Hoffman
Executive Vice President
+27 866 101 787
alwyn@ipico.co.za

IPICO Inc.
Gordon Westwater
Executive Vice President
+1 (866) 824-8757
gordon@ipico.com

ExploTrack, LLC
Bob Morhard
Managing Partner
+1 (610) 630-4271
morhard@explotrack.com