SAN DIEGO -- IPEX, Inc. today announced that on August 9, 2005, it entered into a binding letter of intent to acquire San Diego-based Vinculum Communications, Inc., an international long distance carrier that provides termination services to over 150 carriers worldwide for $14.5 million in mainly IPEX shares. The transaction is expected to close by September 30, 2005. Scott Goodwin, Vinculum's President and CEO, will join IPEX as President of Telecommunications.

"The acquisition of Vinculum will be immediately accretive to earnings and is a natural fit for IPEX," stated Jerry Beckwith, IPEX' Chairman and CEO. "The addition of 150 new carriers strengthens our platform by providing more routing options to carrier customers and by adding to our historical call quality database for vendor rankings and quality assurance. Scott's experience and contacts in the field of international wholesale will be very useful."

Mr. Goodwin brings 21 years of telecom experience to IPEX, including the most recent ten in the wholesale international markets. Under his leadership, Vinculum has become one of the fastest growing VoIP carriers globally. During the eight years prior to founding the company in 2001, Goodwin served as Senior Vice President at WorldxChange Communications managing at various times their wholesale, prepaid card and operator services divisions. During this time, the international wholesale division revenues grew to $250 million, with the prepaid card division growing by $180 million in annual sales.

"I look forward to working with the IPEX team to build a 'best-of-breed' network that can lead the field in volume, quality and profitability," commented Scott Goodwin. "The combination of these two companies is a powerful one."

IPEX Inc.