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ICE Corp. (ICMC.OB) Announces Its Next Generation Transaction Authentication System

Singapore-based Intelligent Communication Enterprise Corp. (“ICE Corp”) offers a range of innovative mobile marketing solutions and communications technologies. The company announced today that it has successfully completed the installation of its new iCEmat (ICE Mobile Authentication Technologies) authentication platform.

This platform is a more advanced version of the previously known PIVOT system. The company will launch commercial operation of iCEmat in August 2010 and will host and operate the application from Singapore. The platform is targeted primarily at preventing credit card fraud in ‘card not present’ transactions. Research shows that credit card fraud cost consumers and merchants $48 billion in 2008.

Combined with ICE Corporation’s messaging platform, and the company’s new iCEsync application, iCEmat will also be a robust, easy-to-install solution for electronic signature verification, order confirmation, identity theft prevention and an array of other applications where transaction security is of high importance.

The CEO of ICE Corporation, Luther Jao, said, “We are encouraged by the positive initial reaction from potential clients and we hope to conclude arrangements with some early adopters from the insurance and banking industry very soon. With the release of the current version of the application, we are confident that we can make a significant contribution to the prevention of transaction fraud.”

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