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Monday, 10/23/2006 10:17:04 AM

Monday, October 23, 2006 10:17:04 AM

Post# of 4972568
IBAC Corporation Releases Financial Statements
Business Wire - October 23, 2006 10:09

NEW YORK, Oct 23, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pink Sheets:IBCX) today announced that it has released the company's Financial Statements on their website, they may be viewed at http://ibaccorp.com/IBACCOMPLETEFINANCIALSSEPT.pdf.

The company would also like to correct the spelling in the previously announced pending acquisition of the world renowned golf course architect & designer to Mr. Alfred H. Tull. The company had mistakenly spelled Mr. Tull's last name as Mr. Taft. We are sorry for any confusion this may have caused and would like to thank the shareholders who brought that error to our attention. A chronology of Mr. Tull's work may be viewed at http://www.rockleigh.org/Recreation/Golf/Tull.htm.

Finally the company would like to report that it is the process of building a new corporate website that will be much more informative and user friendly and that it should be completed within the next 30 days.

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