SOURCE: MobiClear, Inc.

December 15, 2006 06:54 ET

MobiClear to Sign Agreement With European Bank

DOVE CANYON, CA -- (MARKET WIRE) -- December 15, 2006 -- MobiClear, Inc. (OTCBB: MBIR) announced today that the company has signed an agreement with Swedish-based FOREX Bank to use the company's electronic Personal Identification Verification solutions.

In addition, the company announced that BICO, Inc. has changed its name to MobiClear, Inc. and now trades on the NASD Over the Counter Bulletin Board under the ticker symbol, MBIR.

Lim Wong, CEO and President of Mobiclear, Inc., stated: "We are excited about the agreement with FOREX Bank. FOREX Bank will be able to offer their end-users and customers a new way to confirm their identity by using their personal mobile phone and pin code, without asking them to learn any new behaviors or master new techniques."

Tomas Zetterquist, CEO of FOREX Bank, stated: "This will help us and our customers to avoid economic losses as well as lower the administrative costs and major investments in preventative security technology. Starting in December 2006 FOREX Bank will run a final test to prepare for a roll out in the first quarter 2007, within our banking operations."

Marcus Qvennerstedt, Head of FOREX Bank Security, stated: "We have evaluated MobiClear's unique and innovative security solutions, protecting the consumer's identity and ensure safe and secure purchases in stores as well as on the Internet, and we are very pleased with the MobiClear solution. And based on my previous police experience dealing with international financial fraud I believe MobiClear has huge potential."

About FOREX Bank

FOREX Bank offers savings and loans, cash & credit cards, prepaid cards, payment and cashier service, foreign currency and money transfer services at convenient locations around Scandinavia.

The banking market in the Nordic region has experienced tougher competition since June 2003, when FOREX, the leading foreign currency company since 1965, extended its business into private banking. FOREX Bank offers very competitive rates on saving and loans and is one of the Nordic regions busiest VISA-card issuers. The business will extend even further into related services within the private banking sector.

The bank has over 60.000 customers and is growing rapidly. The cash currency turnover exceeds 25 billion SEK (ca 2,8 billion EUR), and over 7 million Nordic customers are serviced every year.

About MobiClear

MobiClear specializes in electronic Personal Identification Verification (PIV) solutions in connection with credit/debit card transactions. MobiClear's multi-gateway solution (U.S. patent pending) offers proactive security in all forms of electronic business environments including Internet shopping, business-to-business procurement transactions and retail shopping with credit/debit cards.

Credit/debit card fraud on the Internet and in stores is increasing at an enormous rate. The estimated figure comes to USD 20 billion annually. And in the USA alone the level of credit/debit card fraud on the Internet and in stores is estimated to be USD 4 billon.

MobiClear's answer to the problem is a security and user-friendly identity solution that works right across the globe. And in addition MobiClear's identification service ensures safe and secure trade over the Internet, which in its turn helps to create more user satisfaction in both e-trade and invoice payments online.

MobiClear offers solutions and services that, MobiClear believes, virtually eliminate credit/debit card and electronic transaction fraud, completely securing these transactions. A unique feature of MobiClear's solutions are that end-users and customers do not need to learn any new behaviors or master new techniques.

MobiClear has an IBM PartnerWorld agreement within banking. The agreement covers marketing, technical and development support. IBM is one of the world-leading companies in the invention, development and manufacture of the industry's most advanced information technologies, including computer systems, software, storage systems and microelectronics.

For more information: Please write to MobiClear at or visit MobiClear's website at

This news release includes comments that may be deemed forward-looking within the meaning of the safe harbor provisions of the U.S. Federal Securities Laws. These include, among other things, statements about expectations of future transactions or events, revenues, sales of products and performance. Forward-looking statements are subject to risks and uncertainties that may cause the company's results to differ materially from expectations. These risks include the company's ability to have necessary financing in time to meet contractual obligations, developing appropriate strategic alliances, raising working capital, successfully developing and implementing technology, acceptance of the company's products and services, building a functional infrastructure, and other such risks as the company may identify and discuss from time to time. Accordingly, there is no certainty that the company's plans will be achieved.

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