PubliCARD, Inc. Reports Additional Recovery NEW YORK, Feb. 20 /PRNewswire-FirstCall/ -- PubliCARD, Inc. (BULLETIN BOARD: CARD.OB) reported that it has entered into a binding agreement to assign to a third party certain insurance claims against a group of historic insurers. The claims involve several historic general liability policies of insurance issued to the Company. The terms of the settlement are confidential. As a result of the settlement, after allowance for associated expenses and offsetting adjustments, the Company expects to receive net proceeds of approximately $475,000 within the next 60 days. In 2003, the Company executed three additional settlements with various historic insurers, which resulted in net cash proceeds of approximately $4.1 million plus an additional net amount of approximately $500,000 which will be held in escrow for up to three years. The Company is also in discussions with other insurance markets regarding the status of certain historic policies of insurance. It cannot be determined whether any additional amounts may be recovered from these other insurers nor can the timing of any such additional recoveries be determined. About PubliCARD, Inc. Headquartered in New York, NY, PubliCARD, through its Infineer Ltd. subsidiary, designs smart card solutions for educational and corporate sites. The Company's future plans revolve around a potential acquisition strategy that would focus on businesses in areas outside the high technology sector while continuing to support the expansion of the Infineer business. However, the Company will not be able to implement such plans unless it is successful in obtaining additional funding, as to which no assurance can be given. More information about PubliCARD can befound on its web site http://www.publicard.com/. Special Note Regarding Forward-Looking Statements: Certain statements contained in this press release may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 that involve risks and uncertainties that could cause actual results to differ materially from those expressed or implied in the applicable statements. Such factors include general economic and business conditions, the ability to fund operations and need to raise capital, the ability to identify and consummate acquisitions and strategic alliances, business and product development, time to market, the loss of market share, ability to attract and retain employees, development of competitive products by others, ability to protect our intellectual property, impact of pending litigation, continued listing and liquidity of our common shares, market makers choosing not to make a market for our common shares on the OTC Bulletin Board and other factors over which PubliCARD has no control. For more information on the potential factors which could affect financial results, refer to the Company's most recent Annual Report on Form 10-K for the year ended December 31, 2002, as amended, and quarterly reports on Form 10-Q for the quarters ended March 31, 2003, June 30, 2003 and September 30, 2003 as filed with the SEC. DATASOURCE: PubliCARD, Inc. CONTACT: Antonio L. DeLise, President, Chief Executive Officer & Chief Financial Officer of PubliCARD, Inc., +1-212-651-3120 Web site: http://www.publicard.com/

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