Vu Trong Thu and his team build a cube sat that will launch with IOS as well, and we got to know him during the UNOOSA conference in Graz in 2010.

http://fspace.edu.vn/?page_id=27

Planned orbital operations of F-1 CubeSat:

•Deploy antennas, begin beacon transmission<<BR>>
•Collect telemetry data (battery voltage, temperatures) and transmit<<BR>>
•Take photos of the Earth and transmit<<BR>>
•Test 3-axis magnetometer<<BR>><<BR>>

Lifetime: only a few months (depends on solar activities and atmospheric conditions)<<BR>><<BR>>



more info on cubesats 

http://en.wikipedia.org/wiki/CubeSat