/ CORRECTION - Industrial Biotechnology Corporation

In the news release "Industrial Biotechnology Corporation's Vice President of Business Development and Scientific Operations to Speak at BioFlorida 2006," issued earlier today by Industrial Biotechnology Corporation (PINKSHEETS: IBTY), we are advised by the company that an incorrect draft was originally submitted by the company, and several revisions have been made throughout the text, including to the headline. Complete corrected text follows.

Industrial Biotechnology Corporation's Vice President of Business Development and Scientific Operations Presents at BioFlorida 2006

SARASOTA, FL -- November 14, 2006 -- Industrial Biotechnology Corporation (PINKSHEETS: IBTY) (IBC), a company dedicated to new biotechnologies and innovations in the chemical industry, today announced that Gary Howell, Ph.D., IBC 's VP Business Development and Scientific Operations, will present and discuss matters pertaining to industrial chemical production utilizing biotechnologies with colleagues in Florida in a presentation at the 9th Annual BioFlorida meeting this week in Gainesville, Florida.

BioFlorida 2006 includes internationally renowned speakers, presenters and panelists that will explore the convergence and synergies between the key life-science sectors (biotech, pharmaceuticals, medical devices, diagnostics and ag-bio), as well as other topics of critical importance to both researchers and industry executives in all aspects of the life science field.

"We are pleased to be a part of this year's Conference and look forward to benefiting from connections with the many excellent biotechnology business leaders and researchers through the opportunities afforded by this excellent program. BioFlorida 2006 offers an exciting opportunity to exchange ideas and perspectives with colleagues in Florida across the broad scope of bioscience interests and capabilities. We are looking forward to introducing our Company and the third wave of Biotechnology innovations to our colleagues and neighbors in Florida, while exploring new possibilities for collaboration, synergy and mutual value creation," said Gary Howell, VP Business Development and Scientific Operations, IBC.

About BioFlorida and the 9th Annual State-wide Conference

BioFlorida 2006 includes internationally renowned speakers, presenters and panelists that will explore the convergence and synergies between the key life-science sectors (biotech, pharmaceuticals, medical devices, diagnostics and ag-bio), as well as other topics of critical importance to both researchers and industry executives in all aspects of the life science field. The program for the 9th Annual Conference includes thought-provoking panel discussions, thought-leading keynote speakers and special cross-industry networking opportunities. Session tracks focus on bio-science, emerging-business topics, mature-business topics, and include concurrent sessions with the bi-annual Florida Marine Biotechnology Summit V.

The theme for this year is "Intersections: Converging Fields, Emerging Opportunities," to emphasize that this Conference provides an excellent opportunity for partnerships and productive interactions between entrepreneurs, biotechnology entities and investors as development of commercial actions, enterprise cooperation.

BioFlorida is the statewide industry organization representing life science industry in Florida, one of the fastest growing bio hubs in the world. BioFlorida focuses on creating and maintaining a favorable business and legislative environment, advancing the commercialization of research and working with investors, private enterprise, government, academia and the financial and service sectors to further develop existing companies, launch start-up companies and attract new business to Florida. For more information about BioFlorida and the 9th Annual Conference, please visit its website at www.bioflorida.com.

About Industrial Biotechnology Corporation

Industrial Biotechnology Corporation (IBC) enables the biological production of chemicals through a combination of licensed patents, intellectual property and proprietary systems. We accomplish this through our ALCHEMx Productions Platforms(TM) which are a systematic, streamlined approach to biologically manufacture chemicals more efficiently, at significantly lower costs, and with substantially lower environmental impact than traditional methods. IBC and its partners plan to produce and market new and established biologically produced chemicals to the pharmaceutical, bio-energy, agricultural, biopesticides, fine chemicals, flavors and fragrances, cosmeceuticals, biomaterials and biopolymer industries. For more information about Industrial Biotechnology Corporation, please visit its website at www.industrialbiotechnology.com .

Forward-Looking Statements

Certain matters discussed in this press release are "forward-looking statements." These forward-looking statements can generally be identified as such because the context of the statement will include words such as "expects," "should," "believes," "anticipates" or words of similar import. Similarly, statements that describe Industrial Biotechnology Corporation's future plans, objectives or goals are also forward-looking statements. Such forward-looking statements are subject to certain risks and uncertainties, including the financial performance of Industrial Biotechnology Corporation, as appropriate, which could cause actual results to differ materially from those currently anticipated. Although Industrial Biotechnology Corporation believes the expectations reflected in any forward-looking statements are based on reasonable assumptions, they cannot give any assurance that their expectations will be attained. Shareholders, potential investors and other readers are urged to consider these factors carefully in evaluating any forward-looking statements. Certain factors could cause results and conditions to differ materially from those projected in these forward-looking statements, and some of these factors are discussed below. These factors are not exhaustive. New factors, risks and uncertainties may emerge from time to time that may affect the forward-looking statements made herein. These forward-looking statements are only made as of the date of this press release and Industrial Biotechnology Corporation does not undertake any obligation to publicly update such forward-looking statements to reflect subsequent events or circumstances.


Contact:
Industrial Biotechnology Corporation
2033 Main Street
Sarasota , FL 34237
941-925-2500
Email Contact

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