PRESS RELEASE

Tuesday November 18, 8:25 pm ET

Integrated Performance Systems Receives $6.2 Million Non-Dilutive, Non-Equity Financing Commitment for Mergers & Acquisitions!

Tuesday November 18, 8:25 pm ET
DALLAS--(BUSINESS WIRE)--Nov. 18, 2003--Integrated Performance Systems (OTCBB:IPFS - News), in business for nearly 20 years and one of the nation's leading manufacturers of high-end microwave circuit board components, announced today that they have signed a financing agreement for a non-dilutive, non-equity financing commitment from Dallas-based SMI Chips, Inc. in the amount of up to $6.2 Million for the purpose of synergistic mergers and acquisitions. This financing commitment will allow the company to proceed immediately with their aggressive growth strategy. IPFS currently provides a diversified product base utilized by a broad spectrum of technology industries. IPFS's current production facilities are poised to accept the rapid expansion this financing will provide.

"We are very pleased with the opportunity this funding commitment will bring to the company and its shareholders. In the past few years with a struggling economy, many companies that were once profitable and growing have found that the stagnant economic environment has jeopardized continuing profitability. By acquiring some of these companies, we believe that synergistic companies can immediately become more profitable under the IPFS umbrella by eliminating redundant overhead. We are currently reviewing several acquisitions, which IPFS will be prepared to fund using this commitment. Along with the funding provided from our current investment banking relationships, this commitment will help us achieve our goal of growing our revenues to $40 million annually, during the next three years," stated Ron Allen,CEO & President of Integrated Performance Systems.
IPFS's 45,000 sq ft state-of-the-art manufacturing facility has the production capabilities and capacity to accommodate the immediate expansion this financing will provide without any significant increase in infrastructure cost or overhead. The potential acquisitions that are currently under consideration will complement their existing product lines, and in addition, will bring in established revenues, which will enhance the company's profitability while expanding our current customer base and increasing shareholder value.
SMI Chips, Inc. has had a long established and continuous relationship with IPFS for many years and has provided significant financing for the company by supplying them with product inventory loans. This commitment has originated from prior and long-standing business relationships between IPFS and SMI Chips, Inc. Both companies anticipate that the acquisition strategy will be successful and beneficial to the long-term growth of IPFS.

About Integrated Performance Systems
Integrated Performance Systems is a Dallas-based holding company that currently provides high quality electronic components and provides state-of-the-art total solution electronics manufacturing services to the high-speed wireless communications industry, the digital electronics market and the broadband communications industry, with applications in commercial and military markets. The Company currently provides products and services to a diversified customer base including the defense industry, the avionics industry, and the telecommunication market. The Company's high quality components, microwave interconnect solutions, antennas and sophisticated sub-system assemblies are currently manufactured for an impressive array of Fortune 500 companies and leading electronic manufacturers which include: Rockwell International (NYSE:ROK - News) Level-3 (Nasdaq: NM:LVLT) Honeywell (NYSE:HON - News) Lockheed Martin (NYSE:LMT - News) Raytheon (NYSE:RTN - News) and Ball Aerospace (NYSE:BLL - News) among others.
Through its Asian subsidiary, Voium, the company has gained an entrance into the fast growing Asian wireless market by providing wireless data streaming technologies. The company has just begun offering instant news and financial messaging services to Singapore wireless customers in affiliation with Standard and Poor's and Sing Tel. It is anticipated that this short messaging service (SMS) will be expanded to China and into other Asian markets, now that the revenue enhancement potential has been proven to the telecommunication carriers. In addition, Voium is pursuing opportunities to develop wireless infrastructure using a patented broadband technology in conjunction with Asian telecom companies. These technologies, beyond their significant profit potential, may also open the door for IPFS to begin manufacturing operations in Asia as a part of its worldwide expansion plan.
COMPANY DETAILS
Integrated Performance Systems Inc
17300 N. Dallas Parkway, Ste. 2040
Dallas, Texas 75248
Phone: 972/381-1212

Web: http://www.IntegratedPerformanceSystems.com

SAFE HARBOR PROVISION Except for historical information contained herein, the statements in this company description that are forward-looking statements are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. Forward-looking statements involve known and unknown risks and uncertainties, which may cause the company's actual results in future periods to differ materially from forecasted results. Such risks and uncertainties include, but are not limited to, market conditions, competitive factors, the ability to successfully complete additional financings and other risks.