CAMARILLO, Calif., Nov. 15 /PRNewswire-FirstCall/ -- International Card Establishment, Inc. (I.C.E.) (OTC Bulletin Board: ICRD - News) today announced its third quarter and nine month results for the period ended September 30, 2006. For the quarter ended September 30, 2006, the company generated net revenue of $2,827,008 as compared to net revenues of $1,162,001 for the quarter ended September 30, 2005. For the quarter ended September 30, 2006 the company reported net income of $29,278 $(0.00 per share) as compared to a net loss of $(1,066,127) $(0.04 per share) for the quarter ended September 30, 2005. EBITDA (Earnings Before Interest, Taxes, Depreciation and Amortization) for the quarter was $305,015.

For the nine months ended September 30, 2006, the company reported net revenues of $7,683,082 versus $2,751,569 for the comparable period a year ago. For the first nine months of 2006, the company reported a loss of $(3,550,822) $(0.12 per share) versus a loss of $(3,550,823) $(0.12 per share) for the nine month period ended September 30, 2005.

"We are pleased to report our first ever quarterly profit, and a strong EBITDA of $305,015 for the third quarter," said H. Wain Swapp, CFO, I.C.E. "This is a beginning of what we expect to be a continuing string of profitable quarters. As we roll out our sales and marketing campaign over the coming quarters, we expect to increase revenues and related net income and EBITDA given the highly scaleable nature of our business." Mr. Swapp went on to add, "Our cost cutting efforts are now complete and we can now focus on growing our business."

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 through its wholly-owned Neos Merchant Solutions subsidiary (http://www.neosmerchant.com) 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:
     H. Wain Swapp
     Chief Financial Officer, I.C.E.
     800-905-6367 ext. 532
     email: wswapp@neosmerchant.com

      or

     Investor Relations Contact:
     PAN Consultants, Ltd.
     Philippe Niemetz,
     toll-free: 800/477-7570
     212/344-6464
     email: p.niemetz@panconsultants.com