Intercede News

11/04/2008

Trading Update for the Full Year to 31 March 2008

On 14 February 2008, Intercede announced a number of new contract wins, and further progress on several existing projects. As it enters its closed period ahead of announcing full year results for the financial year ended 31 March 2008, Intercede is pleased to report that it continues to experience high levels of interest in and demand for its MyID technology.

Good progress has been made with all of the projects referred to in the Company’s previous announcement. Intercede has also been engaged with a number of new prospects. To put this in perspective, the Group is currently involved in significant work on over 10 major projects whereas, as recently as 2 years ago, Intercede was typically only working on 2 major projects at a time. The momentum is therefore clearly building and we are increasingly confident that this will be reflected in future financial performance as more and more projects move beyond the initial POC and pilot phases.

Significant progress has also been made during the past year with the development of MyID Version 8.0 which is scheduled for launch during the current quarter. MyID Version 8.0 represents a substantial strengthening and broadening of the Group’s historical card management offering since it is the only solution of its kind to deliver registration, ID verification and card/device issuance and life cycle management within a single product.

Pre audit indications of the results for the year ended 31 March 2008 are that revenues have increased from £2.6m to £2.8m. Costs continue to be tightly controlled and have been maintained at the same level as the prior year resulting in a substantial reduction in last year’s operating loss of £0.3m. Year end cash balances totalled £1.15m.

Intercede expects to announce its full year results for the year ended 31 March 2008 by early June 2008.

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About Intercede
Intercede Group plc is a leading developer and supplier of smart card and identity management software listed on the London Stock Exchange (IGP LN) (IGP.L). Intercede’s MyID software manages the secure registration, issuance and lifecycle of digital identities for a wide range of uses. This requires the integration of multiple technologies and products from many different vendors, including smart cards, biometrics, digital certificates, Open Platform applets and physical access control systems.

Intercede works with a number of market leading OEM, re-seller and technology partners that supply MyID technology to the global market place including: Athena Smartcard Solutions, Gemalto, Oberthur Card Systems, Oracle, RSA Security, SafeNet, Thales, VeriSign and a variety of systems integrators and other security product and service providers.

Intercede and MyID are registered trademarks or trademarks in the UK, US and/or other countries.

For more information visit http://www.intercede.com

Enquiries:

Intercede Group plc
Richard Parris, Chairman & Chief Executive
Andrew Walker, Finance Director
Tel. +44 (0)1455 558111

KBC Peel Hunt
Richard Kauffer
Daniel Harris
Tel. +44 (0)20 7418 8900

Pelham Public Relations
Archie Berens
Tel. +44 (0)20 7743 6679

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