Pair of Hi-tech Business Leaders Join Innovative Card Technologies

Business Wire,  May 5, 2008  

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Mark Poidomani and Jim Turley Bring Combined 50 Years Executive Experience in Product Invention and Commercialization, Financial Anti-Fraud Services, Intellectual Property Development and Merger and Acquisition Management to CTO and Technical Advisory Positions

LOS ANGELES -- Innovative Card Technologies, Inc. (NASDAQ:INVC), developers of the breakthrough ICT DisplayCard security device for e-banking, e-commerce and data access, today announced that Mark Poidomani, former CTO for PrivaSys and inventor of financial anti-fraud solutions, has joined the company as Chief Technology Officer. Joining the company in a technical advisory position is Jim Turley, former president and CEO of Patriot Scientific Corporation and an acknowledged expert in managing intellectual property, developing and commercializing technical products, and directing competitive and growth strategy for advanced technology enterprises.

"We welcome both Mark and Jim during this period of rapid product commercialization of our ICT DisplayCard," said Steven R. Delcarson, President and CEO of Innovative Card Technologies. "They are true professionals and their combined experience developing competitive strategy for emerging technical companies, inventing and piloting hi-tech products to commercial success, and developing strong intellectual property protections are ideal skill sets to help us move to the next level of our growth and expansion."

A business leader and inventor in the financial fraud protection and e-commerce services industry, Poidomani's expertise spans hardware, software and firmware development, manufacturing, professional services, enterprise class authentication solutions, data security and quality assurance. As CTO of PrivaSys from 2000 until recently, Poidomani led new anti-fraud product development and commercialization, offshore manufacturing, managed a multi-million dollar budget, and developed an extensive portfolio of patents to protect and extend the company's intellectual property.

"Innovative Card Technologies leads in the industry in offering a proven, ultra-portable authentication product at a time of high demand from financial institutions and enterprise corporations looking to secure their electronic transactions and data," said Poidomani. "I am excited to join a company with huge growth potential, and am eager to apply my 25 years of technical business management experience as CTO to help the company fully capitalize on its ideal industry position."

Also joining the company is Jim Turley, who served as president and CEO of Patriot Scientific Corporation until recently. From 2000-2006, Turley was the owner and principal analyst of Silicon Insider, a consulting and analyst firm for the computer technology industry. Turley is a specialist in merger and acquisition management and intellectual property development, author of seven books on computer science and technology, and is a regular contributor to publications such as The Wall Street Journal, Forbes, and San Francisco Chronicle.

"I am very excited by the promise of Innovative Card Technologies and its flagship product, the ICT DisplayCard," said Turley. "The company offers a unique, desirable product, has inked business partnerships with the largest card manufacturers and security service providers in the world, and has lined up 11 financial and enterprise deployments. I am eager to lend my industry expertise and strategic vision to help the company continue its march to commercial success."

About Innovative Card Technologies

Innovative Card Technologies, Inc. (NASDAQ:INVC) was founded in 1993 to add functionalities to payment cards. The company's suite of ICT DisplayCards enables dual-factor authentication in a convenient card form. The cards can be configured to offer RFID physical access or payment capabilities, and feature a screen powered by an integrated battery, circuit, and switch. This screen displays a one-time password to verify the presence of the card during online and voice transactions or data systems login. www.incard.com.

This release may contain forward-looking statements, which are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. All forward-looking statements included in this document are based upon information available to InCard as of the date hereof, and InCard has not assumed any duty to update these forward-looking statements to reflect events or circumstances after the date of this document. A discussion of various factors that could cause InCard's actual results to differ materially from those expressed in such forward-looking statements is included in InCard's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-KSB, dated April 1, 2008.

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