PATENTED TECHNOLOGY RELATING TO NEW TYPE OF STRUCTURAL SUPPORT IMPROVES NATION’S INFRASTRUCTURE, SAVES MONEY AND REDUCES ENVIRONMENTAL HAZARDS

 Intellectual Property Development, Inc. acquires patent from University of Central Florida

Coral Gables, August 16, 1999 - Intellectual Property Development, Inc. (“IPD”) announced today that it has acquired U.S. Patent No. 5,599,599 (“the ‘599 patent) and a related patent application from the University of Central Florida (“UCF”).  The ‘599 patent for Fiber Reinforced Plastic (“FRP”) – Concrete Structural Members covers technology for creating stronger, safer, longer lasting structural support members for bridges and other infrastructure.

The FRP – Concrete Structural Member technology has civil engineering applications for infrastructure such as bridges, docks and marine fenders.  The benefits of this technology are both economic and environmental.  By increasing the longevity of the structural members the frequent replacement and associated costs are greatly reduced.  In addition, by creating a nontoxic replacement for the use of creosote in fender piles - a substance that the U.S. Environmental Protection Agency has listed as toxic - this new technology greatly reduces an environmental hazard.

The technology covered by the ‘599 patent was a result of work done by Dr. Amir Mirmiran while an Assistant Professor at the University of Central Florida in conjunction with the Florida Department of Transportation.  IPD intends to commercialize the patented technology by making licenses available to the construction industry and its suppliers.

“IPD is pleased to have acquired the rights to technology which solves many of the causes of premature deterioration and structural deficiencies in the nation’s bridges, buildings and other infrastructure. We plan on immediately licensing and proliferating this exciting technology,” said Howard Krass, President of IPD.

New Structural Support Technology

A copy of the patent is available on the IPD website at www.ipdevelopment.com.  For additional information on the technology please contact:

Howard Krass

Intellectual Property Development, Inc.

4601 Ponce de Leon Blvd.

Suite 300 

Coral Gables, Florida 33146 

(305) 662-8515

Intellectual Property Development, Inc., based in Coral Gables, Florida, is in the technology transfer business, concentrating on the commercialization and licensing of technology worldwide.  IPD both acquires technology for commercialization and licensing on its own behalf and acts a licensing agent for third parties.  IPD also conducts intellectual property valuation.  IPD’s notable other projects include acting as the exclusive licensing agent on behalf of Maxwell Communications through its trustee in Bankruptcy Arthur Andersen for technology involving Hybrid Fiber-Coax Cable Networks.