Icon Development Inc. Enters into a Letter of Intent to Acquire 100% of the Issued and Outstanding Common Shares of American Xeno Inc.

VANCOUVER, British Columbia -- Icon Development Inc. [OTCBB:IDVE] is pleased to announce that it has entered into a letter of intent [the LOI] to acquire 100% of the issued and outstanding common shares of American Xeno Inc [AXI] by way of a share exchange.

The LOI is subject to due diligence, the conclusion of formal acquisition documents, approval by the respective Boards of Directors of both parties, the raising of financing by ICON and certain other conditions customary for acquisitions of this nature. It is expected that Closing will occur in February 2007. There can, however, be no assurance that Closing will, in fact occur, or that it will take place within the proposed time frame.

AXI is a private Nevada Corporation formed with a single focused mission: to become a global leader in the therapeutic application of organs and cells derived from genetically engineered pigs, as a transplant alternative to human donor sources. This corporate goal is made possible through the company's position as an exclusive licensee, of what AXI considers to be one the medical industry's most advanced research, intellectual property and associated technologies derived from over 15 years of development in the field of xeno-transplantation by one of the world's leading pharmaceutical companies and its associated research entities. Xeno-transplantation is defined as the transplantation of organs, cells and tissues from one species to another.

Historical technological details captured by AXI's exclusive license include the following:

* Exclusive rights to the use of a herd of proprietary in-bred miniature swine which will be the donors of choice for xeno-transplantation. The AXI pig herd has been in-bred over decades in a controlled scientific environment in order to ensure animal uniformity, guaranteeing consistent transplant quality control.

* Laboratory studies have demonstrated that the AXI donor pigs are incapable of infecting human cells, a critical factor in ensuring transplantation safety.

* AXI's exclusive patent rights include the use and composition for targeting and eliminating the major causes of rejection of xeno-transplants.

* AXI believes it would be in a global dominant position in the field of Tolerance whereby a patient's immune system can be reeducated to more closely recognize transplanted foreign cells, tissues and organs as "self", reducing the requirement for chronic systemic immunosuppressive drugs.

AXI plans to prioritize development of its exclusive xeno-transplantation rights through the application of its proprietary Porcine Islet Cells to treat diabetes and the application of its proprietary Porcine Kidneys to treat End Stage Renal Disease.

Certain statements in this press release that are not historical facts are "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements may be identified by the use of words such as "anticipate," "believe," "expect," "future," "may," "will," "would," "should," "plan," "projected," "intend," and similar expressions. Such forward-looking statements, involve known and unknown risks, uncertainties and other factors that may cause the actual results, performance or achievements of Icon development Inc. (the Company) to be materially different from those expressed or implied by such forward-looking statements. The Company's future operating results are dependent upon many factors, including but not limited to the Company's ability to: (i) obtain sufficient capital or a strategic business arrangement to fund its expansion plans; (ii) build the management and human resources and infrastructure necessary to support the growth of its business; (iii) competitive factors and developments beyond the Company's control; and (iv) other risk factors discussed in the Company's periodic filings with the Securities and Exchange Commission, which are available for review at www.sec.gov under "Search for Company Filings."