IP Applications Announces Private Placement and Change of Board

VANCOUVER, April 13 /CNW/ - IP Applications Corp. (TSX-Venture: IPX), a
leading provider of comprehensive Internet Outsourcing Solutions, today
announced a non-brokered private placement led by Pender Growth Fund (VCC)
Inc., ("PGF") of 2,424,242 common shares at a price of $0.33 per shares for
gross proceeds of $800,000.
In addition, each placee in this offering who holds previously issued,
non-expired warrants of the Company will be entitled to surrender the warrants
that entitle them to purchase up to the number of common shares issued to them
under this offering and receive an equal number of the warrants entitling the
placee to purchase one additional common share at $0.35 per share for a period
of 12 months from the closing and at $0.40 per share for the period 12 to
24 months from closing.
Under the financing completed in December 2004, the Company issued
cashless put warrants entitling PGF to receive a payment of up to
333,333 common shares (on a post-consolidated basis) subject to certain
conditions. The Company has agreed to waive the conditions and to issue
333,333 common shares to PGF simultaneous with the closing of this offering in
full satisfaction of its obligations under the cashless put warrant.
The Company will use the proceeds to fund North American sales and
marketing efforts, build and deliver new services, and for working capital
purposes. This financing is subject to completion of formal documentation and
receipt of regulatory approval.
The Company is pleased to announce the appointment of Mr. David Roberts
to the board of directors effective immediately. Mr. Roberts is the CEO of
PenderFund Capital Management Ltd, the manager of PGF.
The Company also announces the resignations of Mr. John Darch and
Mr. Curt Cranfield from the board of directors effective today and thanks them
for their contributions to date.

About IP Applications
IP Applications sells and licenses products, services and software to
leading North American Service Providers in Telecommunications, Cable and
Power as well as to ISPs and Enterprises. The combination of carrier grade
facilities, mass provisioning capabilities and dedicated technical and sales
professionals makes IP Applications a trusted strategic partner. Our
24/7 multilingual help desk can be offered to our customers and their
subscribers as a personalized complement to a wide variety of IP products from
traditional applications and network support services to the latest Broadband
over Power Lines.

Forward Looking Statements
The press release may contain forward-looking statements. Actual events
or results may differ materially from those described in the forward-looking
statements due to a number of risks and uncertainties. Forward-looking
statements are based on management's estimates, beliefs and opinions. The
company assumes no obligation to update forward looking statements.

The TSX Venture Exchange does not accept responsibility for the adequacy
or accuracy of this release.

Signed,

"Shay Prasad"
Chief Financial Officer