Date: Jan. 5, 2008

International Building Technologies Group, Inc.

MOU signed to acquire a machinery manufacturing company of 3.9 millions assets worth

Alameda, CA – January 5, 2008 - International Building Technologies Group, Inc. (OTCBB:INBG) announced today that it has recently entered into a Memorandum of Understanding (MOU) to acquire a machinery manufacturing company in Wuhan, Hubei Province of China. The Hubei InteWufeng Machinery Co., Ltd. currently offer several lines of equipment, but its machining capabilities can be retooled to manufacture the panel production manufacturing systems that IBT will utilize in several planned projects in China and other countries.

The signed MOU has specified the basic terms of a Final Agreement to acquire the machinery manufacturing company following due diligence and financial review by both companies. Financial information provided by the Hubei InteWufeng Machinery Co., Ltd. states the company currently has assets worth of RMB 28.5 millions (US Dollar 3.9 millions approx.) and generated revenue of RMB30 millions (US Dollar 4.1 millions approx.) in the year of 2007. 

Stated Kenneth Yeung, CEO of International Building Technologies Group, Inc., “This potential acquisition would give IBT the ability to manufacture its proprietary equipments of panel production machinery. The Hubei InteWufeng Machinery Co., Ltd. currently has state of the art tool and machining systems, experienced engineers, design capabilities for new lines of equipment as well as strong service and after-sales supports.  Strategically, this acquisition would strongly support IBT’s ability to supply the market for building panels in China and throughout the world.”