iCurie Issues Business Update

    SEOUL, South Korea, Dec. 20 /PRNewswire-FirstCall/ -- iCurie, Inc.
 (OTC: ICUR), a full solution provider and technology licensor of thermal heat
 management for the PC, consumer electronics, lighting and display industries,
 today issued the following business update detailing the extensive progress
 made during 2005.
     Hakan Wretsell, Chief Executive Officer of iCurie, said, "We are
 encouraged with the extensive progress we made in 2005 in our operations,
 financing and commercialization.  We have announced a series of substantial
 licensing agreements with industry-leading customers. We have already secured
 $20 million in financing of our initial $22 million target, which along with
 our U.S. listing gives us added credibility as we work with the world-class
 partners we are currently engaged with. In September we opened our new state-
 of-the-art, manufacturing facility at Guro Industrial Park in Seoul, South
 Korea. The facility has the capacity to supply more than 700,000 cooling
 devices a year, and can be expanded to a maximum capacity of more than
 1.2 million units a year.  An important purpose of the plant is to supply
 manufacturing test samples to a wide variety of industries. Customers will
 have the opportunity to test and verify new designs in close coordination with
 iCurie's skilled research team. We now have the resources and capabilities to
 rapidly supply up to 500 test units from a real manufacturing environment."
      Dr. Jeong Hyun Lee, Chief Technology Officer and Founder of iCurie, said,
 "During the past year we have been aggressively working to commercialize our
 proprietary technology. Building on our business momentum, we recently
 announced three major partnerships.  We signed a licensing and distribution
 contract with Asia Vital Components Co., Ltd (AVC), the world's largest CPU
 cooler supplier.  Under the new patent license and sales exclusivity
 agreement, AVC plans to develop, market and sell a new thermal management
 product based on iCurie's patented Microfluidic Cooling System (MCS)
 technology for use in PCs. Their first manufacturing line is already installed
 and is dimensioned for a capacity of between 1 million and 3 million a year,
 depending on model.  We believe the exciting new device we are jointly
 developing will be the next generation of thermal conductivity solutions for
 PCs and laptop computers, and potentially other industries as well. Secondly,
 we received an order from Central Electronics, which is a further validation
 of our proprietary thermal management technology. Importantly, this represents
 the launch of a standardized product to be offered to illumination companies,
 like Central Electronics, worldwide as we expand beyond PC cooling solutions.
 And finally, we recently announced a LOI, showing the intent to enter a
 strategic partnership with Advanced Energy Technology, Inc (AET).  AET is a
 subsidiary of GrafTech International Ltd. (NYSE:   GTI), one of the world's
 largest manufacturers of high quality synthetic and natural graphite and
 carbon-based products.  This is a major opportunity for us to work with one of
 the leading companies engaged in commercializing new thermal management
 technologies based on expansive graphite and carbon science. Importantly, this
 joint development partnership could move iCurie's proprietary thermal
 management technology into commercialization in yet another materials
 environment.  We have already shown very good test results in solutions based
 on copper, silicon and aluminum. Through AET's sales network, we expect to
 rapidly commercialize our products in new industries, such as the automotive
 and consumer entertainment industries."
     Michael Karpheden, iCurie's Chief Financial Officer, commented, "iCurie
 will start the new year with a cash balance of approximately $6 million.  We
 believe we now have the necessary funding in place to execute on our current
 business plan, including product commercialization. In line with our strict
 cost controls, we are taking a very conservative approach to staffing, making
 additions only to support specific business as we maintain a lean corporate
 structure.  All investments made in manufacturing or development not
 underwritten by customers will be driven by commercialization opportunities
 and volume requirements."
 
     Outlook
     Looking forward, Wretsell stated, "We are very excited about our
 prospects. We are building a standardized product portfolio with performance
 ratios that shall exceed existing solutions in order to meet demand
 requirements of customers targeting the PC, illumination, lighting, and
 projector markets.  We plan to make 2006 a year of commercialization for
 iCurie.  We have the technology, portfolio of defensible patents and financing
 in place, with a proven team capable of executing on our business model. We
 are already working with several industry-leading customers and we continue to
 build on our active sales pipeline and technology licensing.  We have created
 a Product Performance & Test Result Catalogue, and we are ready to launch a
 multi industrial product portfolio, which will happen early next year. iCurie
 is at the juncture of a great opportunity.  Thermal management is a huge
 problem for electronics, lighting, communications and computing companies
 worldwide -- and therefore a huge opportunity for iCurie with its proven
 solution."
 
     Investor Conference Call / Webcast Details
     iCurie will host an investor update conference call to review the
 company's business progress on Tuesday, December 20, 2005 at 10:00 a.m. in New
 York. The conference call-in number is +1-201-689-8560. A live webcast of the
 conference call will be available at iCurie's website at
 http://www.icurie.com . A replay of the call will be available from 1:00 p.m.
 on Tuesday, December 20, 2005 in New York through midnight on Tuesday,
 December 27, 2005 in New York at http://www.icurie.com and by telephone at
 +1-201-612-7415. The account number to access the replay is 3055 and the
 confirmation ID number is 181895.
 
     About iCurie
     iCurie is a full solution provider and technology licensor of thermal heat
 management for the PC, consumer electronics, lighting and display industries.
 The Company is a leader in developing and commercializing next-generation
 cooling solutions built on iCurie's patents in thermofluid nanotechnology.
 iCurie's extensive intellectual property portfolio includes patents registered
 in Korea, the U.S., Japan and Taiwan, with patents pending in the EU, Russia,
 India and in China. The company has partnerships with some of the word's
 largest manufacturers. For more information visit http://www.icurie.com .
 
     Forward-Looking Statements:
     This press release contains forward-looking statements, involving risks
 and uncertainties. Such statements are based on management's current
 expectations and are subject to certain factors, risks and uncertainties that
 may cause actual results, events and performance to differ materially from
 those referred to or implied by such statements. In addition, actual future
 results may differ materially from those anticipated, depending on a variety
 of factors which include, but are not limited to, iCurie's ability to attract
 investors, iCurie's future operating results, and general economic conditions
 affecting consumer spending, including uncertainties relating to global
 political conditions, such as terrorism and the conflict with Iraq. Readers
 are cautioned not to place undue reliance on these forward-looking statements,
 which speak only as of the date hereof. The Company does not intend to update
 any of the forward-looking statements after the date of this release to
 conform these statements to actual results or to changes in its expectations,
 except as may be required by law.
 
      Contacts:
 
      Michael Karpheden
      iCurie, Inc.
      Chief Financial Officer
      Phone: (305) 529-6290
      Email: info@icurie.com
 
      David Pasquale / Abbas Qasim
      The Ruth Group
      Executive Vice President
      Phone: 646-536-7006 / 7014
      Email: dpasquale@theruthgroup.com / aqasim@theruthgroup.com
 
 

SOURCE iCurie, Inc.

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