Innovative Card Technologies Receives Letter of Non-Compliance with NASDAQ Listing...

Innovative Card Technologies Receives Letter of Non-Compliance with NASDAQ Listing Regulations

LOS ANGELES--(Business Wire)--
Innovative Card Technologies, Inc. ("Company") (NASDAQ:INVC),
announced that it received a Nasdaq Staff Deficiency Letter on July
16, 2008 stating that the Company is not in compliance with NASDAQ
listing requirements. Specifically, the market value of Company's
listed securities is below $35,000,000 as required for continued
inclusion by Marketplace Rule 4310(c)(3)(B). The Company has until
August 15, 2008 to regain compliance. If, at any time before August
15, 2008, the market value of the Company's common stock is
$35,000,000 (a per share price in excess of $1.23 based on the number
of issued and outstanding shares as of the date of this press release)
or more for a minimum of 10 consecutive business days, the Company
will be in compliance with the Rule.

This release may contain forward-looking statements, which are
made pursuant to the safe harbor provisions of the Private Securities
Litigation Reform Act of 1995. All forward-looking statements included
in this document are based upon information available to InCard as of
the date hereof, and InCard has not assumed any duty to update these
forward-looking statements to reflect events or circumstances after
the date of this document. A discussion of various factors that could
cause InCard's actual results to differ materially from those
expressed in such forward-looking statements is included in InCard's
filings with the Securities and Exchange Commission, including its
Annual Report on Form 10-KSB, dated April 1, 2008, and amendments
thereto.

Innovative Card Technologies, Inc.
Susan Roush, 818-222-8330
pr@incard.com

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