IPICO Inc. (TSX-V:RFD - News) today announced that it has signed a letter of intent with CHEP Australia for the trial and development of IPICO's passive Dual Frequency RFID tags in CHEP's managed returnable packaging solutions.

Covering CHEP operations in the Australian and New Zealand markets, the letter of intent commits both parties to further joint development of the IPICO Dual Frequency solution (IP-X).

"RFID must perform in the most extreme conditions for us (CHEP) to realize a measurable value," said Paul McGlone, CHEP Asia-Pacific's VP Marketing Sales, and Customer Service.

"So far, the performance of IPICO's Dual Frequency technology is beyond our expectations. IPICO tags have achieved a 100 percent read rate in demanding environments of high moisture content and metal. Signing a letter of intent moves us a step closer to a long term agreement should further trials and development prove a success," Mr McGlone said.

"IPICO's technology is helping CHEP work towards fulfilling its RFID vision. The arrangement allows us to introduce the benefits of IPICO's passive Dual Frequency RFID solution to a very significant market in Australia and New Zealand," said John Greaves, Vice President, IPICO.

ABOUT IPICO Inc.

IPICO Inc. is an RFID solution supplier with operations in Canada, USA, South Africa, Europe, Asia and Australia. IPICO produces smart labels, tags and readers based on the IP-X communication protocol. Its products are designed to conform to regulatory requirements in most major geographical regions, to excel at long read range, fast multi-read anti-collision and high thru-beam read-speeds of dynamic tag populations, and to allow for multi-reader rollout in close proximity. IPICO's products are used to optimize the management of products, equipment, people, animal