IBAC Corporations Memphis Airport Property Will Now Be Known as the Days Hotel Airport/Graceland Memphis.

MEMPHIS, Tenn. -- IBAC Corporation (PINK SHEETS: ICAN) today announced that it's Memphis Airport Property (Formerly a Ramada Limited) will now be part of Cendant Corporation's Days Inn Hotel System as of Friday January 20, 2006 - 2 PM.

The 128 Room limited service Hotel is now designated as a Days Hotel property, one of the few Day's Inn franchises in the United States to carry that designation. The Hotel is also now online with the Days Inn reservation system www.daysinn.com,

With the property's pictures and other pertinent information to be added within the next week.

"We are ecstatic with Cendant Corporations decision to designate our Memphis Airport property as a Days Hotel Franchise and look forward to the added value that it brings to this assets equity along with the added revenues/benefits that will be generated with this designation. We will continue to maximize the value of our properties by upgrading systems, renovations and other avenues of enhancement. We are continuing to aggressively pursue/complete the renovations and opening of a Country Kitchen Franchise www.countrykitchenrestaurants.com at this location and expect this to be completed in the very near future, thus adding additional equity and revenues from/to this property." Said Garry Becker President IBAC's Southern Hospitality Division. Mr. Becker further stated that this confirms the belief of IBAC Corporations principles as to the outstanding value being created by the company for its shareholders.

The company projects upon the completion/addition of the country kitchen restaurant at the Memphis Airport property along with the change of franchise to the Hotel and certain renovations the property will generate $4,100,000 a year in revenue and increase the value of the property to $6,500,000 giving the company significant equity appreciation, the company purchased said property in June of 2005 for $1,925,000 at auction.

The company continues to maximize its properties revenues and asset value to enhance its balance sheet/audits in preparation for its application and anticipated move to the OTCBB.

The company also continues to pursue additional properties within the hospitality industry to continue growth in revenues and assets.

IBAC Corporation is a New York-based restaurant & hotel holding company operating through its subsidiaries within the Hospitality, Food Service & Restaurant industries specializing in distressed/turn around situations within the industry. IBAC now operates businesses as the majority owner with over 100 employees in Florida, Tennessee & Arkansas. Visit the company website at www.ibaccorp.com.

This press release does not constitute an offer of any securities for sale. This press release contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. These forward-looking statements involve certain risks and uncertainties that could cause actual results to differ, including, without limitation, the company's limited operating history and history of losses, the inability to successfully obtain further funding, the inability to raise capital on terms acceptable to the company, the inability to compete effectively in the marketplace, the inability to complete the proposed acquisition and such other risks that could cause the actual results to differ materially from those contained in the company's projections or forward-looking statements. All forward-looking statements in this press release are based on information available to the company as of the date hereof, and the company undertakes no obligation to update forward-looking statements to reflect events or circumstances occurring after the date of this press release.