SOURCE: International Card Establishment, Inc.

November 19, 2008 07:00 ET

International Card Establishment Reports Third Quarter, Nine-Month Results

CAMARILLO, CA--(Marketwire - November 19, 2008) - International Card Establishment, Inc. (I.C.E.) (OTCBB: ICRD) today announced its third quarter and nine month results for the period ended September 30, 2008. For the quarter ended September 30, 2008, the company generated net revenue of $ 1,855,281 as compared to net revenues of $ 2,162,336 for the quarter ended September 30, 2007. For the quarter ended September 30, 2008, the company reported a net loss of ($ 17,437) ($ 0.00 per share) versus a net loss of ($ 623,317) ($ 0.02 per share) for the quarter ended September 30, 2007.

For the nine months ended September 30, 2008, the company reported net revenues of $ 5,742,195 versus $ 6,929,718 in net revenues for the comparable period a year ago. For the first nine months of 2008, the company reported net income of $ 32,279 of ($ 0.00 per share) versus a loss of ($ 1,122,991) ($ 0.03 per share) for the nine month period ended September 30, 2007.

"We continue to make progress on a number of fronts, including increased account generation from our LIFT Network sales channels," said William Lopshire, CEO, I.C.E. "In the face of a difficult economic environment, I.C.E. is working increasingly at helping its merchant accounts generate traffic and new business by creating promotional services linked to our Gift and Rewards cards and programs."

Mr. Lopshire added, "Enabling our merchants to succeed in this environment is the key to our long term success: aggressive and innovative promotional programs such as ours will make a significant difference in their and our business going forward."

About I.C.E. (http://www.cardnetone.com)

I.C.E. is a provider of diversified products and services to the electronic transaction processing industry. I.C.E. establishes merchant accounts for businesses that enable them to accept credit cards, debit cards and other forms of electronic payments; supplies point-of-sale systems; facilitates processing; and markets a proprietary "Smart Card"-based system that enables merchants to offer store-branded gift and rewards cards.

Forward-Looking Statements

This press release may contain forward-looking statements that are subject to risks and uncertainties. Important factors which could cause actual results to differ materially from those in the forward-looking statements, include but are not limited to: the company's short operating history which makes it difficult to predict its future results of operations; the company's initial history of operating losses with possible future losses which could impede its ability to address the risks and difficulties encountered by companies in new and rapidly evolving markets; the company's future operating results could fluctuate which may cause volatility or a decline in the price of the company's stock; the possibility that the company may not be able to price its services above the overall cost causing its financial results to suffer; and other factors detailed in this press release and in future company filings with the Securities and Exchange Commission, at such time as the company is required to report its results of operations under the Securities Exchange Act of 1934, as amended.

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