Mr. Hylton Karon reports

IFABRIC CORP SECURES NEW $2.5 MILLION TRADE FINANCE FACILITY

iFabric Corp. has secured a new $2.5-million trade finance facility with Ebury Partners Canada Ltd. The facility is fully unsecured and has been put in place to provide additional financial flexibility to support future growth and expansion initiatives. The company will also leverage Ebury's considerable foreign exchange expertise and utilize Ebury's flexible risk management tools and solutions to better manage its continuing foreign currency risks.

This new unsecured $2.5-million facility with Ebury will supplement the company's existing secured credit facility of up to $12.0-million with a Canadian chartered bank. iFabric management believes that these two facilities will provide the company with the working capital needed to support its sales growth objectives.

"We are extremely pleased to have secured this facility with Ebury," stated Hilton Price, chief financial officer of iFabric. "This will provide the company with an additional resource to finance the new revenues anticipated from recently announced programs and initiatives. In addition, we look forward to working with Ebury to develop ongoing strategies to mitigate our currency risks in a current foreign exchange environment that is challenging to predict," concluded Mr. Price.

About iFabric Corp.

Headquartered in Markham, Ont., iFabric is listed on the Toronto Stock Exchange, and currently has 30.3 million shares issued and outstanding. Its two strategic divisions offer a variety of products and services through wholly owned subsidiaries, namely Intelligent Fabric Technologies (North America) Inc. and Coconut Grove Pads Inc.

IFTNA is focused on development and sale of high performance sports apparel, medical protective apparel, consumer protective apparel and proprietary treatments that provide intelligent properties to fabrics, foams, plastics and numerous other surfaces, thereby improving the safety and well-being of the user. Such intelligent properties include anti-viral and anti-bacterial characteristics, water-repellence, and ultraviolet protection, among others.

Coconut Grove, operating as Coconut Grove Intimates, is a designer, manufacturer, distributor, licensor and licensee of ladies intimate apparel products and accessories.

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