ICRD International Card Establishment Inc (CE)

International Card Establishment, Inc. (I.C.E) (OTCBB: ICRD) today reported its financial results for the first quarter ended March 31, 2009.

For the quarter ended March 31, 2009, I.C.E. had net revenue of $1,517,714 and a net loss of $(67,536) ($0.00 per share) versus net revenue of $1,940,679 and a net loss of $(5,545) ($0.00 per share) for the comparable year ago period.

Net revenues decreased by $422,965 for the three months ended March 31, 2009 due mainly to the poor economy, as well as continued attrition of merchant accounts and tighter credit policies.

"While a difficult economic environment precipitated a reduction in revenue, we were able to hold the line on expenses as well, to end up with a small loss," said William Lopshire, CEO I.C.E. "During the quarter we invested in an ambitious new web-based marketing program -- visible at www.liftmysales.com -- that we believe will generate significant exposure for our proprietary Loyalty and promotional products."

Mr. Lopshire added, "While accounting regulations dictate that we expense the sums expended on these programs, we feel that they will establish the foundation for a new marketing paradigm that will reduce our future sales and marketing costs, as well as produce increases in revenues. Lastly, we continue to work on launching several new marketing initiatives that we expect to help us build our top line numbers."

About I.C.E. (http://www.cardnetone.com)

I.C.E. is a 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 Gift and Loyalty system that enables merchants to offer custom store-branded gift and loyalty cards and marketing and promotional tools.

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: I.C.E. Kinzie Visser 866-423-2491 ext. 571 kvisser@icepmt.com PAN Consultants, Ltd. Investor Relations Contact: Philippe Niemetz 800/477-7570 212/344-6464 p.niemetz@panconsultants.com