International Card Establishment Inc. reported earnings results for the year ended December 31, 2007. For the year, the company´s net revenues were $9,222,659, a decrease of 14% from 2006 revenues of $10,765,826. The 14% decrease in net Revenue was mainly due to it´s tightening of credit policies, which resulted in a refusal to sign on high-risk accounts; the company also wrote off a number of questionable accounts as a result of this policy and residual income decreased by approximately $220,000. The company recognized an impairment of $3,649,711 in its merchant and gift card portfolios a non-cash charge which resulted in a net loss of $3,955,299 against a year earlier net loss of $3,755,075.

International Card Establishment Inc. announced that it has entered into a strategic alliance with American Bancard, LLC, to cross-distribute products and services. The companies announced that the first phase of the alliance will be the distribution andsale of International Card Establishment´s Smart Card-based Gift and Loyalty card programs to American Bancard´s extensive merchant portfolio. The launch for the first phase of the alliance is scheduled for the first quarter of 2008. The two companies also announced that they are pursuing further agreements to cross-sell American Bancard services to International Card Establishment´s base of merchant clients. These include American Bancard´s Business Capital Advance programs that carry with them significant profit potential and recurring revenue.

International Card Establishment Inc. announced earning results for the third quarter and nine month ended September 30, 2007. For the quarter, the company generated net revenue of $2,162,336 as compared to net revenues of $2,827,008 for the quarter ended September 30, 2006. Net loss for the period was $623,317 or $0.02 per share against net income of $29,278 for the quarter ended September 30, 2006. For the quarter the company had positive EBITDAS of $142,959. For the nine months, the company reported net revenues of $ 6,929,718 versus $7,683,082 in net revenues for the comparable period a year ago. Net loss for the period was $1,122,991 or $0.03 per share against a loss of $3,584,188 or $0.12 per share for the nine month period ended September 30, 2006. The company had positive EBITDAS for the nine months ended September 30, 2007 of $1,140,995. Net revenues fell by 10% from $7,683,082 for the nine months ended September 30, 2006 to $6,929,718 compared to the nine months ended September 30, 2007 primarily because of tighter controls on new accounts, elimination of high risk accounts, and attrition of the Merchant portfolio.