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IBAC Corporation Prepares To File Form 10 in Anticipation of Move to the OTCBB...

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NEW YORK, Nov 28, 2006 (BUSINESS WIRE) -- IBAC Corporation (Pinksheets:IBCX) a
Hospitality Holding Company today after the bell announced, that it is in the
process of preparing the required form 10, that is necessary for the company's
request to trade on the OTCBB.

The company is working on a fast track basis, and expects to file the form 10
very soon, thus giving the company the ability to trade on the OTCBB.

This press release does not constitute an offer of any securities for sale. This
press release contains certain forward-looking statements within the meaning of
Section 27A of the Securities Act of 1933 and Section 21E of the Securities
Exchange Act of 1934. These forward-looking statements involve certain risks and
uncertainties that could cause actual results to differ, including, without
limitation, the company's limited operating history and history of losses, the
inability to successfully obtain further funding, the inability to raise capital
on terms acceptable to the company, the inability to compete effectively in the
marketplace, the inability to complete the proposed acquisition and such other
risks that could cause the actual results to differ materially from those
contained in the company's projections or forward-looking statements. All
forward-looking statements in this press release are based on information
available to the company as of the date hereof, and the company undertakes no
obligation to update forward-looking statements to reflect events or
circumstances occurring after the date of this press release.

SOURCE: IBAC Corporation

CONTACT: IBAC CorporationInvestor Relations, 718-891-8188Fax: [e-mail]

Copyright Business Wire 2006