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Gold/Mining/Energy : IBI CORP IBIC (CDN) -- Ignore unavailable to you. Want to Upgrade?

To: george eberting who wrote (235)	3/12/1999 4:39:00 PM
From: Elizabeth A Rice	Read Replies (1) \| Respond to of 422

IBI CORPORATION APPOINTS NEW C.F.O., CORPORATE SECRETARY TORONTO, ON-- Thomas A. Smeenk, President and CEO is pleased to announce the appointment of Mr. Harry Figov BSc, MBA, CA, CBV, CFA, CPA to the position of Chief Financial Officer, Corporate Secretary. Mr. Figov will be responsible for corporate and strategic planning, asset valuation and the establishment of financial controls. Mr. Smeenk said "Mr. Figov's wealth of experience, his African heritage and understanding of the business conditions of the continent further enhance the strong, African-experienced operating team." That team includes Professor van Straaten (25 years of African experience), Hans Hansen (34 years of African experience, 5 years as owner/operator of the 120 employee Shawa vermiculite mine in Zimbabwe), and Busumbu-born Nathan Wolukawu BSc (Geology). Mr. Figov earned his BSc in Mathematics and Numerical Analysis at the University of Cape Town, South Africa in 1974. He earned his MBA at the University of Cape Town, South Africa in 1982. He was awarded the designations CA in 1987, CFA in 1993, CPA and CBV (Certified Business Valuator) in 1998. Mr. Figov will continue to operate his own valuation consulting practice which provides valuation education and research services to the financial services sector. The company would like to acknowledge the many contributions of Mr. Garth Jensen CA who remains a director, and Ms. Amy Stephenson MBA, in their roles as CFO and Corporate Secretary, respectively. IBI common shares and rights trade on the Canadian Dealing Network under the symbols "IBIC" and "IBIC.RT," respectively. -30- FOR FURTHER INFORMATION PLEASE CONTACT: Thomas A. Smeenk Tel: (416) 777-1073, Fax: (416) 777-1206, Email: info@ibicorp.com