Mr. McCabe further announced the Company had been in a freeze mode
for the last three months in order to protect its shareholders from
the attempted "Hijack" effort to take over the Company by Mr. Paul
Taylor of Boca Raton, Florida. The Company has now authorized its
attorney, Mr. Marc Tow, to file multiple "Fraud" suits against Mr.
Taylor in Federal Court. The Company has further filed a complaint
with the SEC against Mr. Taylor for fraudulently obtaining Insider
Information from official sources and the Company's Transfer Agent.

All official governing and reporting agencies including the Secretary
of State have been notified of Mr. Taylor's misleading attempts to
portray himself as an Officer/Director of the Company and in several
instances as the President.

In addition, IPCY is nearing completion on the reconstruction of its
new multi-functional website. One added benefit on the new website
design will be the strong focus on the Investor Relations portion of
the website. The new URL for the website is www.ipcyinc.com.

About International Pharmacy Outlets, Inc.

International Pharmacy Outlets, Inc. is publicly traded holding
company whose stock is traded over the counter under the trading
symbol IPCY. IPCY is presently in discussions with privately held
entities that have a unique niche or products in their respective
fields. These entities are participating in the pharmaceutical and
nutraceutical; consumer appliances; manufacturing and distribution;
oil and gas; and the software industries. IPCY's Board is also
reviewing unsolicited submissions from companies that are requesting
long-term joint venture relationships. The Company's Board of
Directors is currently reviewing the operational and financial
implications of these proposals.

The Company's wholly owned subsidiary, Caribbean Marketing Agencies,
Ltd. ("CMA") is a wholesale importer/exporter of prescription drugs as
well as a marketing and advertising agency providing services to
retail pharmacies and mail order centers located throughout the
Caribbean.

DISCLOSURE REGARDING FORWARD-LOOKING STATEMENTS

Statements contained in this press release that are not historical
facts may be forward-looking statements within the meaning of the
Private Litigation Reform Act. Such statements may use words such as
"anticipate," "believe," "estimate," "expect," "intend," "predict,"
"project" and similar expressions as they relate International
Pharmacy Outlets or our management. When we make forward-looking
statements, we are basing them on our management's beliefs and
assumptions, using information currently available to us. Although we
believe that the expectations reflected in the forward-looking
statements are reasonable, these forward-looking statements are
subject to risks, uncertainties and assumptions including the risks
discussed in our filings with the Securities and Exchange Commission.
If one or more of these risks materialize, or if our underlying
assumptions prove to be incorrect, actual results may vary materially
from what we projected. Any forward-looking statements contained in
this press release reflect our current views with respect to future
events and are subject to these and other risks, uncertainties and
assumptions relating to our operations, results of operations, growth
strategy and liquidity. We have no intention, and disclaim any
obligation, to update or revise any forward-looking statements,
whether as a result of new information, future results or otherwise.

Company Contact:
International Pharmacy Outlets, Inc. www.ipcyinc.com
info@ipcyinc.com

Investor Relations Contact:
The Liquid Consulting Group, Inc. www.theliquidgroup.com
ipcy@theliquidgroup.com

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