(Source: MARKETWIRE)Innovative Composites International Inc. (TSX VENTURE: IC) ("ICI" the "Company"), the entity created by the amalgamation of the CPCs Kingsmill Capital Ventures Inc. ("KCV") and Kingsmill Capital Ventures II Inc. ("KII") is pleased to announce that the TSX Venture Exchange (the "Exchange") has issued a final exchange bulletin confirming the completion of the Qualifying Transaction with Innovative Composites Inc. The closing of the Qualifying Transaction, pursuant to which the Company has acquired all of the securities of Innovative Composites Inc. (the "Acquisition"), was announced by press release on October 1, 2009.

It is expected that the shares of KCV and KII will recommence trading on the Exchange on October 20, 2009 under the stock symbol "IC". The new symbol will only become active on the day that trading recommences.

A Management Information Circular describing the Company, KCV, KII and Innovative Composites Inc. as well as the terms of the Acquisition is available at www.sedar.com.

The Company is pleased to provide the following updated business summary for the purpose of a more complete introduction of ICI to KCV, KII and new shareholders.

Background and Strategy

ICI is developing two product lines: structural composite panels and environmentally friendly fire prevention agents. Both product lines utilize advanced, proprietary materials and processes and target transportation, construction and defence industries.

ICI is focused on partnering directly with market leaders in its target industries as it considers this to be the fastest way to bring its products to market. ICI's customized solutions are intended to provide partners with competitive advantages over other players in their industries.

Existing Products

1. FRT panels

Fiber Reinforced Thermoplastics (FRT) is a technology that creates a permanent molecular bond between Fiberglas, Kevlar and other fibers with thermoplastics. Using FRT, ICI engineers developed a line of application-ready structural panels that overcome the traditional shortcomings of wood, metal, concrete and conventional plastic panels. FRT panels combine incredible strength with very light weight, are impervious to weathering, rot, splintering, corrosion, and heat-transfer characteristics and allow for a simpler, quicker manufacturing process than conventional composite panels. FRT panels are utilized in construction, transportation and ballistic/defence applications.

2. HERO 451 Fire prevention products

ICI has secured a license for a unique fire prevention compound and is developing a line of environmentally friendly fire inhibiting and suppressing products.