SCTN Schimatic Technologies Inc (CE)

Smart Chip Technologies (PINKSHEETS: SCTN), a leading technology provider of incentives solutions, today announced that its Board of Directors have approved the implementation of SCTN's corporate stock repurchase plan. The plan is effective immediately and will last until March 1, 2009 at which time the stock repurchase results will be announced.

Subject to applicable rules and regulations, the shares may be purchased from time to time in the open market or in privately negotiated transactions. Such purchases will be at times and in amounts as SCTN deems appropriate, based on factors such as market conditions, legal requirements and other business considerations.

About Smart Chip Technologies (PINKSHEETS: SCTN)

Smart Chip Technologies' turnkey customer retention solutions, including Loyalty, Pre-Paid Stored Value, Punch Cards, and Gift Cards, enable issuers, acquirers, and merchants to take advantage of real-time programs using their cardholders' existing cards using bar codes, magnetic strips, smart chips, RFID, Internet accounts, and other consumer electronic devices. The SCTN system is a scalable, high performance, end-to-end solution that uses an ASP model to customize the system's look and feel to reinforce customer branding. (www.sctn.com)

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