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To: Rocket Red who wrote (127535)	1/29/2004 6:11:30 PM
From: Jim Bishop	Read Replies (2) \| Respond to of 150070

iBIZ Technology Corp. Reaches Settlement Agreements With All Convertible Debenture Holders PHOENIX, Jan. 29 /PRNewswire-FirstCall/ -- iBIZ Technology Corp. (OTC Bulletin Board: IBZT), a leading manufacturer and distributor of accessories for personal digital assistants (PDA) and hand-held devices, has reached settlement agreements with The Laurus Master Fund, The NIR Group, Lites Trading and LH Financial to settle all remaining convertible debenture debt. The terms of the agreements will be disclosed in a Form 8K Filing. Ken Schilling, President and Chief Executive Officer, commented, "Today is a monumental moment in the history of iBIZ Technology Corp. We can proudly look back on the last several years knowing we survived industry downturns and a depressed share price." Schilling further commented, "Rebuilding our business has been a slow and arduous process; however, today iBIZ Technology Corp. is now well positioned to capitalize on our core strengths. Accordingly, with a capital structure which will not be impacted by dilution as a result of paying down debt with common stock, this is an exciting time for iBIZ and it's shareholders. We look now to the future with planned growth through increasing generic sales revenues with an exciting product offering, as well as adding revenue through acquisitions and mergers." About iBIZ Technology: iBIZ is a leading manufacturer and distributor of accessories for personal digital assistant (PDA) and hand-held devices. iBIZ is recognized for innovative, high-quality, competitively priced products available through major retailers. For more information on iBIZ products and services, please visit www.ibizpda.com , email sales@ibizcorp.com , or call 1-800 234-0707. Certain statements in this news release may contain forward-looking information within the meaning of Rule 175 under the Securities Act of 1933 and Rule 3b-6 under the Securities Exchange Act of 1934, and are subject to the safe harbor created by those rules. All statements, other than statements of fact, included in this release, including, without limitation, statements regarding potential future plans and objectives of the company, are forward- looking statements that involve risks and uncertainties. There can be no assurance that such statements will prove to be accurate and actual results and future events could differ materially from those anticipated in such statements. Technical complications that may arise could prevent the prompt implementation of any strategically significant plan(s) outlined above. The company cautions that these forward looking statements are further qualified by other factors including, but not limited to those, set forth in the company's Form 10-KSB filing and other filings with the United States Securities and Exchange Commission (available at www.sec.gov ). The company undertakes no obligation to publicly update or revise any statements in this release, whether as a result of new information, future events or otherwise. SOURCE iBIZ Technology Corp. /CONTACT: Belinda Banks of S&S Public Relations, +1-718-320-4898, Belinda@sspr.com / /Web site: ibizcorp.com / Jan-29-2004 22:53 GMT