News Release

Innovative Products for Life announces Letter of Intent to acquire Ottawa-based Okulus Networks

Calgary, Alberta and Ottawa, Ontario June 25, 2007 – Dr. Hatim Zaghloul, Chairman and CEO of Innovative Products for Life (IPL) in concert with Dragoslav Culum, Co-Founder and President of Okulus Networks jointly announce a letter of intent which will see IPL acquire Okulus. Details of the final agreement are still under negotiation and will be released at a later date.

“In keeping with our corporate vision at IPL, Okulus Network represents an excellent opportunity for us to pursue” remarked Dr. Zaghloul. “We possess the necessary expertise to take the Okulus technologies to that next level in business” added Zaghloul.

Founding partners Dragoslav Culum and Vincent Ng are quoted as saying “The timing of these acquisition talks could not be better for us. Dr. Zaghloul along with his staff and network of contacts understands our value proposition and therefore a good fit to help us. We look forward to completing the final agreement and getting on with the next phase of our development”.

About Innovative Products for Life: IPL was incorporated under the Business Corporations Act (Alberta) in February of 2005. Majority shareholder is Dr. Hatim Zaghloul who is perhaps best known as one of the founders and currently chairman of the board of TSX listed Wi-Lan. IPL's business consists of selling and marketing products based on novel technologies which it develops or acquires. Many inventors fail to bring their invention to market because they either do not have the necessary skills to do so or are unable to continue financing their product development or marketing. IPL seeks to fill that gap by providing the knowledge and skills of its management team to complete the product development, then to market and sell the product. IPL focuses on novel, yet simple ideas that can be developed on an aggressive timeline by relatively small teams of engineers, marketers and sales people. IPL also leverages its management team's expertise in outsourcing to low cost manufacturing countries to ensure that the best quality and cost structure is achieved.

About Okulus Networks: Founded in 2003 by Carleton University graduate students, Dragoslav Culum and Vincent Ng, Okulus Networks develops wireless location tracking technology systems and products. While completing their Masters' degrees in Computer Systems Engineering, Vincent and Dragoslav launched Okulus Networks to compete in the rapidly emerging area of RFID-enabled location tracking. In the same year, Okulus beat out 30 university teams and won the Technology Venture Challenge, a regional competition aimed at encouraging students to build technology companies. On the heels of winning the competition, Okulus obtained valuable support and start-up funding from Carleton University's Foundry Program. Assistance from the Foundry Program also led to additional financial support and commercialization assistance from Communications and Information Technology Ontario. Okulus was then accepted into the Communications Research Center's Innovation Centre, a local technology business incubator.

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