IAHL Corporation (IAHL)

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IBAC Corporation's Board Approves an Additional Reduction of Its Authorized Common Shares and 15% Share Dividend
Business Wire, March 13, 2006

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NEW YORK -- IBAC Corporation (IBCX:PK) announced Friday after the bell that it's Board of Directors has approved an additional reduction of its authorized common shares to 200 Million from 500 Million. The Board also approved a 15% stock dividend, with this action the Board believes it will further help bring the company's market capitalization in line with the true value of the company and allow greater opportunity for growth of the share price.

The company has not filed for any new regdex/504 and will not do so; the decision was made after long discussions with our advisors. We believe the action will enhance the value of the company and will help create a stronger balance sheet/audit when we apply to the OTCBB for listing.

The reduction in the authorized shares will take effect immediately with the appropriate filings being submitted to the Secretary of State of Delaware this week, the 15% stock dividend pay date will be announced by this Wednesday and appropriate paperwork immediately filed. This will leave the company with 200 million common shares authorized and with the 15% stock dividend 172,500,000 million common shares outstanding, the balance of 22,500,000 million common shares will remain in the company's treasury and will not be liquidated.