IRI Separation Technologies Inc. (the "Company") (TSX VENTURE:IRI) announced
that it has amended the terms of the private placement that was announced on
July 14, 2008. The Company has engaged Wellington West Capital Inc. (the
"Agent") to sell up to 21,000,000 units ("Units") at a price of $0.10 per Unit.
Each Unit will consist of one common share and one common share purchase warrant
(a "Warrant"). Each Warrant will entitle the holder to purchase one additional
common share of the Company at a price of $0.20 for a period of 18 months from
closing. The Company plans to close the private placement in a series of
tranches, however there is no certainty that the private placement will be fully
subscribed.


The Company will pay the Agent a commission equal to 8% of the gross proceeds
raised, payable in cash from the gross proceeds at each closing. In addition,
the Agent will also receive Agent's warrants entitling the Agent to purchase up
to such number of common shares of the Company that is equal to 10% of the total
number of Units sold. Each Agent's warrant will be exercisable into one common
share at a price of $0.10 per share for a period of 18 months from the date of
each closing.


A portion of the private placement may be sold on a non-brokered basis, in which
case finders fees will be payable.


The proceeds from the sale of the Units will be used for general working capital
and for the product launch expenses. All securities are subject to a four month
hold period commencing from the date of closing. The private placement is
subject to the acceptance of the TSX Venture Exchange.


About IRI Separation Technologies Inc.

IRI Separation Technologies Inc. (TSX VENTURE:IRI) is a biotechnology company
that specializes in the extraction, development and commercialization of
polyclonal immunoglobulin antibodies for virus and bacteria related health
issues. Intended for use as a nutraceutical for human consumption, the
antibodies are derived from chicken eggs. The immunoglobulin antibodies are
intended for both the general and specific antibody market.