SOURCE: Smart Card Marketing Systems Inc.

October 31, 2006 08:30 ET

Smart Card Marketing Systems Inc. Announces IC WORLD Development Agreement

SAN ANTONIO, TX -- (MARKET WIRE) -- October 31, 2006 -- Smart Card Marketing Systems Inc of San Antonio, Tx (PINKSHEETS: SMKG) (FRANKFURT: QYH), leading provider of prepaid cards, value smart storage cards and Optical management services, is pleased to announce a new co-brand agreement with IC WORLD Development.

IC WORLD Development was established in 2001 by its founder and President Mr. Jean Marc Paquin (www.icworlddevelopment.com) with the main goal to develop a global solution Business Matrix integrating loyalty and Customer Relation Management for retail franchises and authorized dealer merchants in the Travel industry.

As stated by Mr. Paquin that once implemented in existing and new participating merchants the prepaid cards give added value that would not traditionally be available through close loop cards that were restricted by financial network scale.

The agreement with IC WORLD Development is an initial 1000 co-brand cards with US Currency and an additional 1000 Canadian Currency debit cards. Furthermore IC WORLD will also incorporate the www.Velocitymerchant.com service module for payment gateway domestically as well as internationally and add value to the network of our existing merchant base.

As stated by Mr. Paul Continelli, "The continued growth of our platform with those of other aggregators in the loyalty business continues to strengthen the demand for our solutions as well as expand our reach and number of locations in the network giving us an advantage that many financial institutions cannot attain."

Forward-Looking Statements: This news release contains "forward-looking statements," as that term is defined in Section 27A of the United States Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Statements about the expected future prospects of our business and all other statements in this release other than historical facts, constitute forward-looking statements. You can identify forward-looking statements because they contain words such as "believes," "expects," "may," "will," "would," "should," "seeks," "approximately," "intends," "plans," "estimates," or "anticipates" or similar expressions which concern our strategy, plans or intentions. All statements we make relating to estimated and projected earnings, margins, costs, expenditures, cash flows, growth rates and financial results are forward-looking statements. In addition, we, through our senior management, from time to time make forward-looking public statements concerning our expected future operations and performance and other developments. All of these forward-looking statements are subject to risks and uncertainties that may change at any time, and, therefore, our actual results may differ materially from those we expected. We derive most of our forward-looking statements from our operating budgets and forecasts, which are based upon many detailed assumptions. While we believe that our assumptions are reasonable, we caution that it is very difficult to predict the impact of known factors, and, of course, it is impossible for us to anticipate all factors that could affect our actual results. Some of the factors that we believe could affect our results include: general economic and market conditions, including the lingering effects of the economic slowdown and services revenue; the overall condition of the bank card industry, including the effect of any further consolidation among financial services firms; the regulatory, credit and market risks associated with our operations; the integration of acquired businesses, the performance of our businesses; the effect of war, terrorism or catastrophic events; the timing and magnitude of sales; the timing and scope of technological advances; the ability to retain and attract customers and key personnel; and the ability to obtain patent protection and avoid patent-related liabilities in the context of a rapidly developing legal framework for software and business-method patents. The factors described in this paragraph and other factors that may affect our business or future financial results and when applicable, will be discussed in our filings with the Securities and Exchange Commission. We assume no obligation to update any written or oral forward-looking statement made by us or on our behalf as a result of new information, future events or other factors.

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