Ibex Technologies Comments On TSX Review

MONTREAL, QUEBEC -- (MARKET WIRE) -- October 24, 2006 -- The Toronto Stock Exchange has advised IBEX Technologies Inc. (TSX: IBT) that it is reviewing the eligibility of IBEX for continued listing on the TSX and that IBEX has been granted 120 days in which to regain compliance with TSX listing requirements. The TSX has specifically advised IBEX that the Company fails to comply with the requirement that its listed securities have a market value of at least three million dollars over a period of 30 consecutive trading days.