IPICO to acquire Mondi's RFID division and enter into global support agreement

On November 4, 2008, IPICO Inc. (TSX-V: RFD) announced an agreement whereby Mondi AG (LSE: MNDI; JSE: MNP – MND) will spin off its radio frequency identification (RFID) division to IPICO. Further, IPICO will manage and support the deployment of its paper-reel management solution (iCore) and Pallet tracking solutions into Mondi's global operations. IPICO is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, Asia and Australia. Mondi is a global paper and packaging group employing 35,000 people across 35 countries with revenues in excess of 6 billion dollars .

Allan Beach of Fasken Martineau advised IPICO in the negotiation of these transactions.