Ikona and Magna Advanced Technologies agree to extension of development phase

VANCOUVER, April 28 -- Ikona Gear International, Inc. (IKGI:OTC) ("Ikona"), an innovator and developer of a proprietary patented gearing technology with numerous significant technological advantages and Magna Advanced Technologies ("MAT"), a division of Magna International Inc., announce today that they have mutually agreed to a four month extension of "Phase One", the technology development, prototyping, testing, and market research phase, of the April 8, 2003 development agreement between the parties.

MAT is conducting market research to determine the commercial feasibility of the patented Ikona Gear Technology. Upon completion of Phase 1, MAT may (at its sole option) notify Ikona of MAT's intention to license Ikona's technology for commercialization in automotive applications. If MAT proceeds to Phase 2, Ikona and MAT will negotiate license terms prior to September 1, 2004. There are no assurances that MAT will proceed with Phase Two of the April 23, 2004 development agreement as detailed therein.

"The engineering teams of MAT and Ikona worked closely over the past year to successfully complete phase one, confirming the strength, durability and efficiency of Ikona's proprietary gearing technology," said Laith Nosh, President and CEO of Ikona, "prototype testing to date has produced results exceeding product engineering specifications set by project engineers from both MAT and Ikona."

Over the next four months, Ikona and MAT will focus on the commercial viability of the Ikona Gear System in the context of automotive components, assemblies, modules and systems designed and manufactured by some of MAT's affiliates.

  Mr. Nosh advises that, "over the next four months this will entail:

   -  confirming the needs, applications, quantities and order terms of OEM
      customers,

   -  identifying the best applications and opportunities for immediate
      commercialization,

   -  developing and testing specific prototypes and composite materials
      for the identified applications,

- further studying global intellectual property protection afforded through additional patents and other available means, and"

- further engineering process costing analyses.

Ikona Gear International, Inc. is a publicly traded company OTCBB:IKGI, incorporated in the United States, with head office facilities in Vancouver, Canada. Ikona's technology is based on a specific gear tooth form that allows high reduction and high tooth contact ratio with rolling, rather than sliding contact between gear teeth. The technology affords significant advantages: very high torque, zero backlash allowing accurate back-and-forth actuation; low wear and higher efficiency due to rolling contact, fewer moving parts, constant output speed and low noise.

  For additional information, Contact:

  Contact person        Mr. Dal Brynelsen
  Telephone number:     604-685-5510
  Fax Number:           604-685-5970
  Address:              Suite 810, 609 Granville Street, Vancouver, BC,
                        Canada, V7Y 1G5
  Email Address:        dbrynelsen@ikonagear.com
  Web site address:     www.ikonagear.com

  On Behalf of the Board

  Ikona Gear International, Inc.

  "Laith Nosh"

  Laith Nosh, President and CEO

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