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Icron reports First Quarter Results

BURNABY, B.C., May 26, 2005 - Icron Technologies Corporation (TSX Venture: IT), the developers of ExtremeUSB, today released financial results for the first quarter 2005.

Highlights:

• Posted record revenue of $894,210 for the quarter, a 35.4% increase over the prior year, which was achieved primarily due to recent product releases within Icron’s wired USB extension product line and follows the general increased use of USB as the primary connection solution in all market segments.

• Posted record margins of 46.8%

• Experienced significant initial volume shipments of USB 2.0 extension solution, which is the industries only long range USB 2.0 extension solution available today.

• Demonstration of Icron’s Wireless USB 2.0 prototype at Microsoft event with UWB development partner Freescale.

• Filed additional Patents focused on ExtremeUSB for Wireless implementations

Icron’s ExtremeUSB technology and products continues to gain market share and solidify Icron’s position as the industry leader in wired USB extension. Icron is also quickly becoming known as a significant participant in the Wireless USB solution market with increasing interest from existing customers and new wireless radio partners.

Icron is in formal discussions with various companies to integrate ExtremeUSB technology into a range of products aimed at the consumer market.

In addition, general licensing revenues continue to grow as ExtremeUSB becomes available to more OEM/ODM customers in more form factors that allow partners to embed the solution easily and cost effectively.

Suresh Singh, President and CEO commented. “Icron is dedicated to deliver on its plan to provide various Wireless USB and wired USB extension solutions to the market based on its ExtremeUSB technology, and sees the recent revenue growth and customer interest as support for what Icron has shown the market to date.”

Financials:

Icron's revenues for the three months ended March 31, 2005 were $894,210 compared with $660,209 for the same period in 2004. Revenues increased primarily as a result of recently introduced wired product releases, mainly the USB 2.0 Rangers, low cost Rovers and DVI products. Icron's gross profit margin achieved in Q1 was 46.8% of sales, compared to 42.4% for the same period in 2004 (annual gross profit margin for the 2004 fiscal year was 43.7%). Our net loss amounted to $167,146, or ($0.01) per share, in the three months ended March 31, 2005, compared to a net loss of $51,349, or ($0.00), in the same period of 2004. The increase in the loss is directly attributable the accelerated development of the wireless initiative

The Company ended the quarter with cash balances of $1,328,180 compared to $274,824 in the same period of the prior year. Cash used by operating activities amounted to $53,051, compared to cash provided by operating activities of $12,745 in the same period of 2004. Our working capital has increased to $1,791,031 at the quarter ending March 31, 2005, a significant increase from the $680,462 reported in the first quarter of 2004.

By the end of 2005 Icron expects to report significantly improved operating results. Increased revenues from USB 2.0 product sales, licensing revenues and the commercial release and success of the Wireless USB solutions will provide the company with added revenue diversity and growth. Increased revenues, combined with ongoing expense management, will allow Icron to generate positive earnings by the fourth quarter.

For complete financials please visit www.icron.com or www.sedar.com.

About Icron Technologies Corp www.icron.com

Icron Technologies Corporation’s patented ExtremeUSB® technology extends the range of USB in wired environments and enables wireless USB over any RF technology. ExtremeUSB is the only USB-IF compliant extension solution and is deployed globally in a wide range of applications including: industrial automation, medical device, aerospace, KVM and computer networking. ExtremeUSB technology is available in a variety of formats including technology licenses, OEM modules, developer kits, as well as branded and private-label products. The company also provides a range of engineering and development services focused on unique USB connectivity issues."

Icron is a publicly traded corporation and trades under the symbol "IT" on the TSX Venture Exchange. For information on the company and its products, please visit www.icron.com and for detailed financial information visit www.sedar.com. The TSX Venture Exchange has not reviewed and does not accept responsibility for the adequacy or accuracy of this release.

FORWARD-LOOKING STATEMENTS: Except for statements of historical fact, all statements in this news release -- including, without limitation, statements regarding financial estimates and future plans and objectives of Icron -- are forward-looking statements that involve various risks and uncertainties. There can be no assurance that such statements will prove to be accurate; actual results and future events could differ materially from those anticipated in such statements.

2005 Icron Technologies Corporation. ExtremeUSB®, USB Ranger™ are trademarks of Icron Technologies Corporation.

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