IBR Completes Strategic Business Plan

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For Immediate Release

IBR Completes Strategic Business Plan

Renewed Emphasis on Commercial Agricultural Markets

CANADA, BRITISH COLUMBIA, VANCOUVER, Jun. 19 -/E-Wire/-- International Bio Recovery Corp. ("IBR") is pleased to report that the Company has completed a comprehensive new business plan with a deliberate emphasis on obtaining high value for IBR products in commercial agriculture. Research and growing trials completed to date on both dry and liquid products continue to demonstrate significant improvements in plant health and growth responses compared to conventional chemical fertilizers. This plan outlines the Company's strategic objectives for marketing its unique soil fertility products, produced with IBR patented technology, to increase crop yields, prevent plant disease and dramatically reduce the world's agricultural dependence on chemicals while at the same time setting the global standard for the management of organic waste.

IBR technology has a remarkable "value proposition". To the farmers and commercial agricultural growers it offers a means to reverse their increasing dependence on chemical inputs by providing them with innovative and effective fertility products that improve crop yields and nutrient content as well as protect their crops from disease. To municipalities and other waste generators it offers a cost-effective method to dispose of organic materials, putting an end to toxic leachate and greenhouse gas emissions. This unique and revolutionary technology embodies a coordinated effort to "close the loop" in terms of effective organic recycling of nutrients, and to address the critical need for a clean, consistent, pathogen free "bio-fertilizer".

IBR is well positioned in the global marketplace and will immediately begin communicating its business strategy to the investment community and its stakeholders. The Executive Summary of the Business Plan is outlined below and a copy will be made available on the IBR web site.

Executive Summary International Bio-Recovery Corp. ("IBR") has developed an environmental technology which efficiently digests organic waste material and produces an organic fertilizer. IBR's proprietary technology safely and economically "closes the loop" in the plant growing cycle. At it's front end IBR offers waste generators a cost-effective alternative to landfill disposal and incineration as well as an end to toxic leachate and greenhouse gas emissions. AT the back end, IBR provides farmers, food producers the means to reverse their ever increasing dependence upon chemical inputs to the soil.

Some important highlights of the Company and the industry:

According to David Schindler, a noted ecologist from the University of Alberta, the "Green Revolution" that has vastly increased the food production through the use of pesticides and fertilizers has a "dark" side that has markedly changed and fouled the planet. If a "greener" approach is not adapted to make agriculture a more sustainable and efficient business, an area larger than the United States would be required to be converted to farmland in order to feed the projected world population by 2050.

The demand for organically produced fruits and vegetables is steadily growing, especially with younger educated and increasingly environmentally conscious consumers. Supermarkets and grocery stores across North America are devoting increasing shelf space in the produce areas to satisfy that demand.

Current chemical fertilizer production is about 138 million tonnes world-wide. Global demand is projected to grow to 179 million tonnes by 2030. More importantly, global, net primary nutrient removal from the soil is expected to reach 366 million tonnes by 2020. In Canada, the market for agricultural N-P-K chemicals is approximately $725 million U.S. annually.

In Washington State potato growers expended $120 million U.S. on chemical inputs to achieve revenue of $450 million U.S. using 152,000 acres. Preliminary tests of IBR's organic fertilizer products have indicated that these chemical inputs may be reduced by as much as 75% and the grower will still achieve a minimum 10% increase in yield.

After extensive research, it is management's opinion that, IBR is the only company in the world that has the technology capable of aerobically digesting mixed biodegradable waste. The product is uniform, adaptive to current agricultural application techniques, stable, can be economically transported long distances, and can be produced in sufficient volume to make it viable for commercial agriculture. IBR's business model for third parties acquiring a 220 tonne digestive capacity plant requires an acquisition cost of approximately $15.25 million. Using a 50:50 debt equity formula, IBR's management conservatively predicts an annualized after tax ROI of over 16% over a 2-year period. This return is conservatively calculated on $1,750/tonne revenue figures for the liquid fertilizer and $650/tonne for the dry product.

IBR's technology has been independently verified by Environment Canada's environmental technology verification program ("ETV") and by the U.S. Strategic Envirotechnology Partnership ("STEP") program.

The Company has licensing and technology transfer agreements in place for the waste treatment process. The Company anticipates these agreements to proceed providing the positive results from the commercial growing trials using the organic fertilizer products.

The Company has acquired the necessary permits and partnership to build its first commercial organic waste treatment facility in Ladysmith, B.C. It is currently assessing the assured sources of organic waste in order to determine the appropriate size of the plant and the economic value of commercial products that can be produced.

Changes and additions have been made to IBR's Board of Directors and senior management to develop a more seasoned professional team to conduct the Company's business and commercialize both its technology and products.

IBR has created an Academic Advisory Board to assist the Company in achieving its goal of expanding our knowledge base as well as creating a new and refined linkage to commercial agriculture. IBR has identified credible experts involved in the biotech and agriculture industries who have agreed to participate in the board and advise IBR on product research and development.

The Company is conducting 36 independent field demonstration trials primarily in the U.S. on approximately 150 acres, in order to confirm preliminary results achieved by the company as a precursor to commercial marketing of the fertilizer products. It is expected that these trials will be completed by early fall. Preliminary results have been very encouraging. Pricing of IBR's liquid fertilizer will be confirmed upon completion of the current demonstration trials. If pricing is based upon replacing 25% of the cost of chemical inputs to the potato grower a revenue/tonne of $8,900 (Cdn) is achieved. At this price the farmer is paying the same amount for inputs and achieving a minimum increase in yield of 10% The Company is positioning itself with a small number of large agri-companies and the key senior agronomists, in order to ensure a significant demand for IBR's fertilizer products. In addition, these companies generate large quantities of waste which creates real opportunity to purchase IBR technology and build and operate their own plants.

Operating costs at IBR's North Vancouver plant have been reduced by 30% at the same time operational efficiency in real terms has improved.

The Company is projecting growth in fertilizer sales commencing in calendar year 2002 as this year's commercial trial results are reflected in sales volumes.

The Company expects to go to the capital markets in the early fall in order to finance the ramping up of fertilizer sales and fund research as well as the expectation to construct at least two additional facilities in North America.

International Bio-Recovery Corporation (www.ibrcorp.com) is an innovative environmental biotechnology company setting the global standard for the management of organic waste and the development of commercial microbial products to increase crop yields, prevent plant disease and dramatically reduce the world's agricultural dependence on chemicals.

IBR is a publicly listed company trading on the Canadian Venture Exchange under the symbol IBR.

On behalf of the Board,

Frank Dixon, President & Chief Executive Officer

Certain statements in this News Release may constitute forward-looking statements. Forward-looking statements include statements evaluating market and general economic conditions. Investors are cautioned not to place undue reliance on these forward-looking statements which reflect management's analysis only as of the date thereof and actual results may differ materially from those expressed or implied. Such risks and uncertainties with respect to the company include but are not limited to competitive factors, general economic condition, customer relations, government supervision and regulation, product introductions and acceptance, technology changes in the industry and misjudgments in the course of preparing forward-looking statements.

The Canadian Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of the content of this news release.

International Bio Recovery

http://www.ibrcorp.com

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