CAMARILLO, Calif., April 17 /PRNewswire-FirstCall/ -- International Card Establishment, Inc. (I.C.E) (OTC:ICRD.OB) (BULLETIN BOARD: ICRD.OB) today announced its fourth quarter and year end financial results for the period ended December 31, 2006. For the three month period ended December 31, 2006, I.C.E. net revenues rose to $ 3,082,744, a 2% decrease over $ 3,138,166 of net revenues recorded in the comparable year ago period. The company reported quarterly net income of $ 28,956 as compared to quarterly net loss of $(1,751,570) in 2005. Net income would have been significantly higher absent a large charge related to a defaulted merchant account that generated approximately $198,000 in losses. Earnings Before Interest, Taxes, Amortization and Depreciation (EBITDA) also rose sharply to $526,125 or 25% for the quarter, as compared to $422,076 for the same period in 2005. For the year ended December 31, 2006, I.C.E.'s net revenues rose 91% to $10,765,826 from $5,644,079 the previous year. Gross profit increased 94% to $3,608,423 as compared to $1,859,838 in 2005. The net loss attributable to common shareholders was $(3,755,075), down 31% from the previous year's loss of $(5,403,972) EBITDA increased 11% to $(1,855,801) from $(2,124,933) for the year ago period. Note: the information above has been adjusted for the sale of our subsidiary Global Tech Leasing. EBITDA is calculated as income before discontinued operations plus interest and depreciation expense. All information contained above was generated off of our quarterly and annual filings as posted on EDGAR. "We are extremely pleased with our overall results for the year and fourth quarter. Our plan, initiated in the second quarter, to reduce overhead and increase overall margins has been quite successful and we recorded our first profitable quarter in history with net income of $29,278 in the third quarter followed by net income of $28,957 in the fourth quarter. For the year we were able to increase net revenues by 91% to $10,765,826 and gross profit by 94% to $3,608,423. Management remains focused on continuing to increase our overall gross revenues by expanding our agent base and through strategic alliances to reach more of our target merchants," stated I.C.E. CEO, William Lopshire. About I.C.E. http://www.cardnetone.com/ I.C.E. is a rapidly growing 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 loyalty 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. Contact: Kinzie Visser I.C.E. 866-423-2491 ext. 571 email: or Investor Relations Contact: PAN Consultants, Ltd. Philippe Niemetz toll-free: 800/477-7570 212/344-6464 email: DATASOURCE: International Card Establishment CONTACT: Kinzie Visser of International Card Establishment, 1-866-423-2491 ext. 571, or , or investors; Philippe Niemetz of PAN Consultants, Ltd., 1-800-477-7570, or +1-212-344-6464, or , for International Card Establishment

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