NEWS RELEASE

Burlington, Ontario, Canada - November 19, 2008 - IPICO Inc. (TSX-V: RFD) today announced
that it has acquired a controlling interest in the business of Peoria, Illinois-based Mercury Sports
Group, Inc. (operating as IPICO Sports). Mercury has been the exclusive distributor of IPICO's RFID sports timekeeping solutions (including tags and readers powered by IPICO's Dual Frequency RFID technology) since March of 2007. During that period Mercury has shipped approximately 300 systems to 22 countries. Those timekeeping solutions have already timed in excess of two million participants in active sports events held around the globe.

IPICO, with the experienced sports management team from Mercury Sports, plans to grow on
Mercury's success and expand the IPICO SPORTS timekeeping business, which targets the active sports, wellness and recreation markets. Existing markets include running, cycling, swimming and multi-sports, with plans to expand to other sports segments, both competitive and non-competitive, along with the fitness and performance enhancement, wellness enterprise solutions, and other human, animal or motorized sports activities.

"We have worked closely with Mercury over the last two years and this was a natural step and a
tremendous opportunity to acquire a complementary distribution business and continue to grow and expand our sports timekeeping solutions to more markets and more countries around the world" said Gordon Westwater, President & CEO of IPICO Inc.

"We are thrilled to be part of IPICO and to have the combined strength of both organizations in taking the IPICO SPORTS timekeeping solutions to the world," said IPICO SPORTS President and Chief Technology Officer Philip Lockwood, recently named 2008 MarathonFoto/Road Race Management Race Director of the Year.

ABOUT IPICO Inc.
IPICO Inc. is a Radio Frequency Identification (RFID) solution supplier with operations in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart labels and tags based on the IP-X communication protocol. IPICO's low interference readers are designed to meet regulatory requirements in many major markets, and allow for multi-reader rollout in close proximity. 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. These products are used to optimize the management of items, people, animals and processes within the logistic supply chain and other value chains. For further information, go to www.ipico.com.

ABOUT Mercury Sports
Peoria, Illinois-based Mercury Sports combines years of sports management experience with
innovative technologies to help sport and event providers improve the level of services they offer to athletes, spectators, the media, commentators and other participants by using advanced RFID
technology in conjunction with information management and communication tools to design custom solutions that capture, manage and distribute results in the active sports, wellness and recreation markets. Further information can be found at www.ipicosports.com.

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, including, without limitation, statements as to sales forecasts and required minimum future revenues. 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", "suggest" or variations of these or similar words, identify forward-looking statements. These statements by their nature are estimates of future results only. Actual results could differ materially from those contained in the forward-looking statements and are based on current expectations that involve substantial risks and uncertainties, including but not limited to the failure to meet market growth, order volume, delivery commitment or minimum revenue expectations, political intervention, and those other risks and uncertainties detailed from time to time in IPICO's periodic reports filed on SEDAR (www.sedar.com).

FOR MORE INFORMATION:

Gordon Westwater, President & CEO, IPICO Inc., Tel: +1 905-631-6310
Email: gordon.westwater [at] ipico [dot] com

Philip Lockwood, President & CTO, Mercury Sports, Tel: +1 309-672-6442
Email: plockwood [at] ipicosports [dot] com