2008-04-12 11:57:39 -

- Innovative Card Technologies, Inc. (NASDAQ: INVC), announced that its 2007 audited financial statements, which were filed on Form 10-KSB on April 1, 2008, had received a "going concern" qualification from its independent auditors.

About Innovative Card Technologies

Innovative Card Technologies (NASDAQ: INVC) was founded in 1993 to add functionalities to payment cards. InCard's suite of ICT DisplayCards

enables dual-factor authentication in a convenient card form. The cards, which are live and authenticating online banking and brokerage transactions, and data systems access in deployments in the U.S. and abroad, 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 press release contains forward-looking statements which are commonly identified by words such as "would," "may," "will," "expects," and other terms with similar meaning. Forward-looking statements are based on current beliefs, assumptions and expectations and speak only as of the date of this release and involve risks and uncertainties that could cause actual results to differ materially from current expectations. The material factors and assumptions that could cause actual results to differ materially from current expectations include, without limitation, the following: ICT DisplayCard adoption, ICT DisplayCard further testing and certifications, dependence on a limited number of suppliers and their capacity, full scale production of the ICT DisplayCard, and limited capital and liquidity. Innovative Card Technologies, Inc. refers interested persons to its most recent Annual Report on Form 10-KSB as amended by Form 10-KSB/A and its other SEC filings for a description of additional uncertainties and factors that may affect forward-looking statements. Forward-looking statements are based on information presently available to senior management, and Innovative Card Technologies has not assumed any duty to update any forward-looking statements.

Innovative Card Technologies
Marketing Manager
Stephanie Edwards, 310-312-0700
sedwards@incard.com
or
Public Relations
Susan Roush, 818-222-8330
pr@incardtech.com
or
Investor Relations
Jose Castaneda, 720-733-0052
ir@incardtech.com